Housing schemes to build 13,000 new homes get £525m boost

Ministers published a shortlist of over 160 smaller housing developments across the country that could benefit from a share of the £525 million Builders Finance Fund, which will get workers back on sites and new homes built.

This funding will accelerate construction on the first wave of sites with potential to support nearly 13,000 new jobs.

Ministers said that with high demand for the fund, more developers will be invited to put forward their bids over the coming months as part of a rolling programme to unlock homes.

Communities Secretary Eric Pickles said:

"Thanks to the Builders Finance Fund, work will get started on over 160 sites across the country that had been brought to a standstill by the 2008 housing crash.

"This half-billion pound government investment will ensure we deliver up to nearly 13,000 new homes, and the same number of jobs, getting workers back on site and Britain building."

Chancellor George Osborne said:

"I am pleased to see progress with the Builders Finance Fund which will help unlock thousands of stalled housing units by providing house builders with access to finance.

"The government’s long term economic plan is supporting businesses who are creating job opportunities, and in this case, building homes for hard working taxpayers up and down the country."

Communities Minister Stephen Williams said:

"I am delighted to see the Builders Finance Fund making this big step forward. Developers will be able to access over half a billion pounds of finance to build homes across England. Increasing housing supply is a crucial part of the government’s plan to help build a stronger economy and a fairer society and this fund is just one of the many ways that government is supporting that."