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Money available for 136 affordable homes in Bradford
11:00am Monday 2nd June 2014 in News
A milestone has been passed on the route to creating 136 affordable homes in Bradford, with a move to put the finances in place.
Home Housing Association will build 136 homes in the city with backing from the Department for Communities and Local Government.
Money for the scheme is coming from a bond issued by Affordable Housing Finance, which provides the cash at a low-interest rate.
The first link in the financial chain is the Government, which has made the money available to Affordable Housing Finance, which is in turn lending to housing associations at attractive rates.
Housing Minister and Keighley MP Kris Hopkins said: “Since 2010 we’ve delivered 170,000 new affordable homes – but we want to go further.
“Today’s deal means thousands of new affordable homes will be built in communities including four in Yorkshire, for families in real need.
“And thanks to our hard-won and strong economic record, cutting the record deficit we inherited, these housing associations have access to funding for housebuilding at some of the lowest rates the sector has ever seen.”