The Spending Review 2020 has promised to deliver new investment into housing and affordable housing to get Britain building. Settlements for both Homes England and Greater London Authority are now confirmed.
– GLA has a funding settlement of £4 billion to deliver 50,000 homes
– Homes England has a funding settlement of £7.39 billion to deliver 130,000 homes.
There are a number of changes from previous programmes, (such as no new funding for the London Affordable Rent tenure), that will need to be considered as part of all grant-funded programmes moving forward.
New funding sources such as the National Homes Building Fund have been announced which will provide further support for infrastructure to ensure housing and development continues to be delivered.
The Altair team have analysed the new initiatives and are advising a range of Registered Providers, Local Authorities, Developers and Landowners on the implications of the new funding programmes, how to bid and what this might mean for their development plans. If you would like to know more, or need advice on the implications for your own development plans, please get in touch with our team.