17 Sep 2012, 4:54 pm
A spokesperson for the Department for Communities and Local Government (DCLG) told Inside Housing article that the support would not be made available to projects that were "already committed to through existing government schemes", or to refinance existing debt.
The £10 billion scheme, announced on 6 September, will enable providers of private rental homes to raise a debt with a Government guarantee where they commit to investing in additional new-build rented homes.
However, the announcement has been met with confusion from some social landlords and housing associations on the scope of the package. The Homes and Communities Agency (HCA) called on the government to clarify how the package can be used, saying it was concerned that some housing associations were mistakenly planning to use the scheme to fund existing development plans or refinance debt already on their books.
The scheme was announced as part of government's major housing and planning package aimed at increasing house building.
