£3bn affordable homes guarantee scheme

As part of the Chancellor's Spring Statement he proposes:

The government is determined to fix the broken housing market. Building more homes in the right places is critical to unlocking productivity growth and makes housing more affordable. At Autumn Budget 2017, the government set out a comprehensive package of new policies to raise housing supply by the end of this Parliament to its highest level since 1970, on track to reach 300,000 a year on average. The Spring Statement set out further steps to deliver this ambition:

• published a consultation on Infrastructure Finance, seeking views on how the government can best support private infrastructure investment in the context of the UK’s changing relationship with the European Investment Bank
• reiterated the government’s commitment to publishing a comprehensive National Infrastructure Strategy – the first of its kind – setting out the government’s priorities for economic infrastructure and responding to recommendations in the National Infrastructure Commission’s National Infrastructure Assessment
• £717 million from the £5.5 billion Housing Infrastructure Fund to unlock up to 37,000 homes at sites including Old Oak Common in London, the Oxford-Cambridge Arc and Cheshire.
• through the Affordable Homes Guarantee Scheme, the government will guarantee up to £3 billion of borrowing by housing associations in England to support delivery of around 30,000 affordable homes
• further progress on delivering growth in the Oxford-Cambridge Arc including £445 million from the Housing Infrastructure Fund to unlock over 22,000 homes, and a joint declaration with local partners, affirming our shared vision for the Arc
• up to £260 million for the Borderlands Growth Deal, which on top of the £102 million announced recently for Carlisle from the Housing Infrastructure Fund means up to £362 million UK Government funding into the Borderlands area

A new £3bn Affordable Homes Guarantee scheme, to support delivery of around 30,000 affordable homes…

And £717m from the Housing Infrastructure Fund to unlock up to 37,000 new homes on sites in West London, Cheshire, Didcot, and Cambridge.#SpringStatement pic.twitter.com/9ZF5X7W41M

— HM Treasury (@hmtreasury) March 13, 2019

BREAKING: Chancellor @PhilipHammondUK has used his #SpringStatement to announce a new £3bn Affordable Homes Guarantee scheme - https://t.co/DRRMcegrH5 #ukhousing pic.twitter.com/35UecEkEBG

— 24housing Magazine (@24housing) March 13, 2019

Chancellor unveils £3bn affordable homes guarantee scheme in quiet Spring Statement https://t.co/Jn2ysCa0Rm pic.twitter.com/RxmkIgknXv

— Mortgage Introducer (@MortgageChat) March 13, 2019

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