Affordable homes get £500m ‘vote of confidence’

A £500 million funding boost is set to deliver thousands of new affordable homes across the UK.

The investment, secured through an agreement with the European Investment Bank, will help deliver up to 4,300 homes to rent.

The funding forms part of the £3.5 billion Affordable Housing Guarantees programme, under which housing associations are able to use a government guarantee to secure private investment at more competitive rates than they would otherwise.

Welcoming the deal on 7 January, Housing Minister Kris Hopkins described the deal as “a vote of confidence” in our ongoing efforts to restore confidence to our housing market and get Britain building”.

As initiatives like the affordable homes investment come on stream, new opportunities are likely to open up for construction businesses.

Businesses successful in gaining new work are likely to benefit from working with professional advisers experienced in construction issues.

At Palmers Solicitors, we can provide comprehensive advice and guidance to construction companies on all aspects of construction law, including advising on and drafting contracts for new work. For more information, please contact us.