Small house-builders could receive a multimillion-pound boost to do their bit to ‘Get Britain Building’, Housing Minister Grant Shapps has announced.
£100m in funding is being made available to get schemes back up and running, potentially delivering up to 2000 new homes.
The Get Britain Building fund has already provided a boost to developments in places including Ashford and Bath, where work has now restarted on 181 new homes.
Previously, builders bidding for cash had to have plans for at least 25 homes on their sites. Now, to help smaller firms bid for funding, the Minister has lowered the bar to 15 homes. This will open the door to additional developers who previously could not access this financial support. Larger developers can still bid.
Mr Shapps said: “We saw huge appetite last time for this funding but some developers later found they could build without the fund. We need to be sure every single pound of taxpayers’ money works as hard as it can so we can get as many homes as possible out of Get Britain Building. That is why I’m inviting further bids.
“We’ve already started seeing the benefits this is bringing to the industry and the economy as a whole. I now want to see as many firms as possible grabbing this opportunity to get the diggers back on site.”