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Malthouse launches £8.5 million fund to help communities deliver discounted homes

16 May 2019

A multi-million-pound support package to deliver thousands of discounted homes was launched by Housing Minister Kit Malthouse MP. Volunteer groups will be able to apply from Monday for between £10,000 and £50,000 to help identify suitable sites for discounted homes, get planning permission for them and to provide other technical support. Further free specialist advice and guidance will also be made available for those who participate in the pilot.

The government will be making £8.5 million available for the 3 year pilot project which will help provide cut-price homes for younger people and families in need of housing, through locally-led neighbourhood plans.

Minister of State for Housing, Kit Malthouse MP, said:

“Supporting volunteers who are passionate about building more of the homes we need in their communities is something I’m fully behind, and I want to see far more people getting involved across England.”

“This funding is on top of the £26 million already available to help get neighbourhood plans over the line, which act as powerful tools for communities to be involved in the planning of their local area – providing different housing types for those who need new homes.”

Affordable rates

Discounted homes are properties built for people to buy at affordable rates, allowing them to secure mortgages in areas of the country where they are currently locked out of the market by high prices. For example, a 3-bed home from the Cornwall Community Land Trust was recently sold at a discount for local people, for a price of £160,000, which is compared to an average property price in the county of over £230,000.

Produce more homes

The funds launched forms part of a wider package of measures and targeted investment to produce more homes, building on ongoing government action to achieve a system which delivers 300,000 properties a year by the mid 2020s.

Source: https://www.gov.uk/

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