New Government Initiative – Home Building Fund

As part of the Spending Review, the Government has announced a National Home Building Fund investing £7.1 billion over 4 years. This will shake up the housing market, unlock brownfield land for development, and support new and innovative construction techniques.

According to the Government, this new funding will be available to:

• Support up to 660,000 jobs and unlock up to 860,000 homes.
• Offer £2.2 billion of loans for small and medium enterprises (SMEs) and innovative housebuilders.
• Offer an additional £100 million of grant funding in 2021-22 for unlocking brownfield sites.
• Make available £4 billion Levelling Up Fund that will invest in local infrastructure.
• Help protect the most vulnerable in our society by announcing an additional £254 million of resource funding to tackle homelessness and rough sleeping.
• Support local councils with access to an additional £2.2 billion to deliver core services.
• Make homes safer by providing an additional £70 million to help set up new regulators, build a new regulatory regime, empower residents to raise safety concerns, and help remove dangerous cladding.

Let’s hope it fulfils its promise and is as easy to access as the government implies!

For further information, please contact Ed or Kelly on 01284 365345 or email ed@granitebw.co.uk / kelly@granitebw.co.uk.