Coalition Government launch scheme for more affordable housing

Liberal Democrats welcome Coalition Government’s Affordable Housing Guarantee Scheme which opens for applications today (20th June).

The scheme is designed to support housing associations to fund and deliver additional affordable homes for local people to rent.

The Department for Communities and Local Government will guarantee up to £3.5 billion of debt on terms of up to 30 years for housing associations who commit to building new affordable housing.

Speaking about the scheme, North Cornwall’s Liberal Democrat MP Dan Rogerson said:

“Liberal Democrats locally and in Coalition Government are determined to make sure that we deliver more affordable housing that is so desperately needed in our communities.

“Decent, affordable homes to rent are in demand both in our towns and in our rural communities too. New affordable homes to rent, in the right locations, will be of huge benefit to local people and families looking for somewhere to live. I’m pleased that the Coalition Government have introduced this Affordable Housing Guarantee Scheme as one of a package of measures to help encourage the building of more affordable homes both to buy and to rent.”

Liberal Democrat Leader and Deputy Prime Minister Nick Clegg added:

“Providing good quality, affordable housing for rent is essential to rebuild our economy after the heart attack it suffered in 2008, which made it harder to buy a first home and put more pressure on the private rental market.

“As well as building more affordable homes, the schemes we are launching today will mean more jobs in construction including apprentices – giving a much-needed jobs boost across the country.”

Liberal Democrat Chief Secretary to the Treasury, Danny Alexander said:

“The guarantee programme is the first of its kind and will transform the way housing providers raise money for vital projects. I’m very pleased with the progress we’ve made to ensure that landlords and housing associations across the UK can take advantage of the strength of the UK’s balance sheet, and get on with delivering high quality and affordable homes.

“We must keep building on this momentum and I want providers to come forward and seize the unique opportunity that this scheme is offering.”