House building schemes launched by government

February 16, 2022 by Mark

Property Market

The government is launching a number of projects that are designed to increase the number of houses that are built in the UK, an estate agent based in London has revealed.

Jeremy Leaf used to be the Residential Chairman at RICS, and he now works as an estate agent in the capital. According to Mortgage Introducer, he has stated that several new ideas to support house building are being applied by the government as one part of its commitment to levelling up the country. One of these schemes has been called Homes England, and it will see the Home Building Fund used to provide smaller housing developers with loans and financing for infrastructure.

This fund is made up of £7.1 billion, with further sums of money from it set to be used to help finance the construction of affordable, environmentally friendly houses in all parts of the country.

In addition to the Home Building Fund, the government has also created two other funding sources: Help to Build and the Affordable Homes Programme. The first of these will provide financing for people who are building a home of their own.

However, Leaf stated that it was the Help to Buy scheme that was having the most impact on the industry so far, by providing those buying for the first time with equity loans that have good repayment terms.

Any mortgage advisor with a CeMAP qualification will understand why Leaf feels that this scheme has been particularly helpful, as first-time buyers face the most hurdles at the moment.