Support, ranging between £5 million to £100 million,
will be made available to those developers who are able
to demonstrate the necessary experience and commitment
to building excellent new homes, whilst boasting a
track record of delivering challenging projects on time
and to target.
Overseen by the Government’s delivery agency Homes
England, the funding will put greater emphasis on
opening up the housing market, which sees almost
two-thirds of new homes built by just ten companies at
present.
The Housing Delivery Fund will support the delivery of
new homes, including social housing, retirement living
and apartments for rent, whilst also encouraging
greater innovation on how housing is delivered such as
brownfield land and urban regeneration projects.
Housing Secretary Rt Hon MP, said:
My priority as Housing Secretary is to get Britain
building the homes our country needs. This new
fund - partnering Homes England with Barclays -
is a further important step by giving smaller
builders access to the finance they need to
get housing developments off the
ground.
This is a fantastic opportunity to not only get more
homes built but also promote new and innovative
approaches to construction and design that
exist across the housing market.
, Barclays’
Chairman, said:
There is a vital need to build more good quality
homes across the country. This £1bn fund is
about helping to do exactly that by showing firms in
the business of house building that the right finance
is available for projects that help meet this urgent
need.
We are very pleased to be working with government to
get the country building more homes, more quickly.
Chairman of Homes England, Sir Ed Lister, said:
Homes England has been established to play a more
active role in the housing market and do things
differently to increase the pace, scale and quality
of delivering new homes.
The Housing Delivery Fund demonstrates Barclays’
commitment to the residential sector and will provide
a new funding stream for SME developers to help
progress sites and deliver more affordable homes
across England.
Today’s agreement with Barclays forms part of the
Government’s wider commitment to increase the pace of
housing delivery in England. Ministers have been
clear on their ambition to achieve 300,000 new homes a
year by the mid-2020s, which follows 217,000 homes
built last year, the biggest increase in housing supply
in England for almost a decade.
