£500m unlocked for affordable homes in government deal
Thu 16th January 2014, 11:16 am
An investment of £500 million secured through an agreement with the European Investment Bank will help to deliver up to 4,300 new homes, housing minister Kris Hopkins has announced.
The investment forms part of the government's £3.5 billion affordable housing guarantees programme, which enables housing associations to use a government guarantee to secure private investments at more competitive rates than would otherwise be possible.
The first eight housing associations to receive funding are:
- Devon & Cornwall Housing
- Hexagon Housing Association
- First Wessex
- Great Places
- Wales and West Housing Association
- Home Group
Hopkins said: "Today’s deal with the European Investment Bank is a vote of confidence in our ongoing efforts to restore confidence to our housing market and get Britain building.
"This £500 million investment will help deliver up to 4,300 new affordable homes across the country, on top of the 170,000 affordable homes we’ve already delivered since 2010."