5 August 2014
A new £150 million investment fund for 10,000 ‘serviced plots’ – which will help bring forward ‘shovel ready’ custom build sites – has begun to accept applications of interest.
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The Custom Build Serviced Plots Loan Fund is designed to support the development of schemes of a minimum of five serviced plots for custom build homes, whether these are detached, terraced or in the form of apartments.
There is no upper limit on the numbers of plots that can benefit from funding. However, to maximise the number of projects that can be assisted, a cap will be applied of £3 million for any single project.
As a general rule, the sites should have outline planning permission as a minimum, with plots laid out and the land ready for construction. Access should be provided and each plot should have utilities/services provided to the plot boundary. Applications without planning permission may be considered if the applicant is in control of the land or where the site has been designated in an adopted development plan.
Department for Communities and Local Government Secretary, Eric Pickles, said: “The investment will help drive up the supply of new homes in every corner of the housing market. From new places for rent to people designing to those building their own properties – we will support and deliver the homes this country needs.”
Expressions of Interest for funding can be submitted through the Homes and Communities Agency’s (HCA’s) Partner Portal, with the initial bid round closing at noon on the 30th September 2014. It is anticipated that applicants will be contacted before the end of November 2014.
Further information, including the Prospectus and Frequently Asked Questions, can be found on the GOV.UK website.
