Govt announces £525m funding for new home construction
?The government has announced that work on almost 13,000 homes which was stalled by the 2008 financial crash is set to resume. A shortlist of more than 160 small housing developments up and down the country has been drawn up by ministers - and all of these sites will gain from a share of the £525 million Builders Finance Fund. This finance is set to get workers back on sites and continuing to build new homes - and the first wave of sites has the potential to support as many as 13,000 new jobs. The Builders Finance Fund was launched back in April and is a cornerstone of the government's long-term plans for the national economy. Funding takes the form of loans that the developer will be liable to repay on the completion and sale of the properties. It was acknowledged that there is a very high level of demand for the funds - and as a result of this trend, future waves of the programme will see other developers invited to submit bids. This will take place over the course of the coming months and will be the start of a rolling programme to unlock new homes. Three sites that have already been shortlisted for funding include the 80-home Boardwalk development in Halton, Baintrees' 20-home Priory Hall development and finally the telmont Hospital in Devon, which will be the location of 23 new abodes. 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," the minister continued.
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