Housing minister announces £208 m in affordable housing loans

Out-Law News | 02 Jun 2014 | 5:14 pm |

Housing minister Kris Hopkins has announced that thirteen housing associations across England, Scotland and Wales will receive a share of £208 m in loans to help deliver affordable housing.

The loans are intended to help fund the building of around 4,800 new affordable homes across the country, supported by an existing loan from the European Investment Bank.  The majority of the homes are planned for England, with 329 to be built in Wales and 147 in Scotland.  652 of the affordable homes are planned for London.

Funding for the project is to be raised by the issuing of bonds. The first bond was issued by Affordable Housing Finance on 30 May 2014.

"Since 2010 we've delivered 170,000 new affordable homes – but we want to go further", said Hopkins in a statement. "Today's deal means thousands of new affordable homes will be built in communities from Glasgow to Truro, for families in real need."