Chancellor Philip Hammond and Communities Secretary Sajid Javid announce the launch of £3billion Home Building Fund
07 October 2016
The DCLG has launched the new Home Builders Fund – which includes funding to support the custom and self build sector. The £3billion fund will be used to help build more than 25,000 new homes this Parliament, and up to 200,000 in the longer term. It will provide loans for small and medium enterprise builders, custom builders, offsite construction and essential infrastructure, creating thousands of new jobs in the process.
The inclusion of self and custom build in the fund comes as a result of NaCSBA’s work to promote the sector to the government and the DCLG’s support for NaCSBA initiatives. The news of the fund follows a recent meeting at Downing Street between Chancellor Philip Hammond, Communities Secretary Sajid Javid, and NaCSBA Chair Michael Holmes with MP Richard Bacon.
Commenting on the announcement, Mark Stevenson, NaCSBA’s Suppliers & Manufacturers Representative, said: “It is really pleasing to see NACSBA working collaboratively with Government to secure the support necessary to grow the custom and self build sectors. The availability of finance is a key driver of growth and the launch of the new and more flexible House Builders Fund will not only provide much needed project finance but will also make it easier for members to access funds enabling more homes to be built”.
Launching the fund, Sajid Javid said: “We want to ensure everyone has a safe and secure place to live and that means we’ve got to build more homes. It is only by building more houses that we will alleviate the financial burden on those who are struggling to manage.”
For more details of the fund click here
