NEW CONSERVATIVE HOUSING POLICIES AT-A-GLANCE
£3bn Home Building Fund:
Several existing funding schemes, which have not been fully allocated, will be combined into one fund. These are the £525m Builders Finance Fund, the £1bn Large Sites Infrastructure Programme and the Build to Rent Fund.
The fund also includes £1.15bn of previously unannounced loan finance, made up of £800m of ‘long-term loans’ and £325m ‘short-term’. In total £2bn will be used for long-term funding for infrastructure, with £1bn administered for small and custom builders. The £3bn fund will enable 225,000 new homes. Housing associations will be able to bid for the fund.
£2bn Accelerated Construction Programme:
The Government will partner with contractors and investors to speed up development on public land.
Mr Javid said the Government will “create new supply chains using offsite construction” and encourage new models of building. The scheme is understood to be an expansion of direct commissioning policy implemented by the previous government. This scheme will enable 15,000 new homes by 2020, Mr Javid said.
Housing White Paper:
Published later this year containing “further significant measures” to allow the government to hit one million new homes by 2020.
Ministers have promised a package of measures to encourage urban regeneration and building on brownfield land.
Housing minister Gavin Barwell indicated again that the government may change the Shared Ownership and Affordable Homes Programme to include funds for sub-market rent.
Harsher penalties for landlords letting to illegal immigrants:
In her speech to Conservative Party Conference in October 2016, Home secretary Amber Rudd announced landlords knowingly letting to illegal immigrants could in future face jail, as opposed to the current maximum £3,000 fine.
Housing minister Gavin Barwell confirmed the government is looking to broaden the definition of Starter Homes to include other types of low-cost homeownership. Inside Housing has previously reported this could include rent-to-buy.
Focus on 100 ‘low supply, high demand’ areas:
The Government has identified 100 local authority areas where supply is massively behind demand. Mr Barwell said the government will work with councils to improve the situation.
The Armed Forces Help to Buy scheme will be extended for a further two years until 2018.