Newspaper article The Journal (Newcastle, England)

Creating Places Where People Are Proud to Live

Newspaper article The Journal (Newcastle, England)

Creating Places Where People Are Proud to Live

Article excerpt

Byline: Naz Parkar

EVERYONE is aware that we need more homes and the Homes and Communities Agency is working across the North East to make sure that as many new homes as possible are built to ensure that local people can afford to live in a home that meets their needs.

The Government's Help to Buy scheme, managed by the Homes and Communities Agency, continues to be a great success, having already helped an estimated 3.9 million people on to the housing ladder with only a 5% deposit and a 75% mortgage. To see if you are eligible and to get more information on the scheme, visit the web site A vital part of making new homes affordable is to make sure that more are built. The Homes and Communities Agency (HCA) operates a number of schemes to ensure that more new homes are built.

The Builders' Finance Fund supports new housebuilding for schemes where the banks are unable to provide funding. The fund provides much-needed development finance for small sites, benefiting smaller and medium-sized builders and will support the building of up to 15,000 new homes, following on the success of the Get Britain Building programme which has already delivered 12,000 additional homes.

The Government has made PS525m available for the HCA to invest with housebuilders and developers across England. Any builder who has a development of between five and 250 homes which can be started by early next year is eligible to bid for an investment of up to half the cost of the scheme from us. To ensure that we support all builders, including smaller ones, we have recently reduced the minimum scheme size we will support to only five homes and the minimum we can invest to PS200,000.

These investments in the building sector will ensure that we are creating and protecting jobs and providing apprenticeships at the same time as increasing the number of houses that are available to local buyers.

The HCA also manages the Custom Build Serviced Plots loan fund which offers an additional PS150m fund to support smaller builders. …

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