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Government Seek Bids For Build-To-Rent Scheme

Government Seek Bids For Build-To-Rent Scheme

Build-To-Rent scheme seeking bids from property developers to help bring about the fastest rate of affordable residential property construction for two decades 

UK Government Housing Minister, Mark Prisk, last week announced a second round of funding for the construction of new rental properties and the government are seeking fresh bids for a share of at least £400 Million (GBP) to build new properties specifically for the private rental sector (PRS).

The funding is part of the flagship £1 Billion (GBP) Build-To-Rent fund, which offers support for property developers and property investors who want to get into the private rental sector for the first time.

Mr Prisk said the new Build-To-Rent scheme would encourage investment in the UK’s private rental market and offer prospective tenants a greater choice of rental property. The scheme is intended to run alongside up to £10 Billion (GBP) in government housing guarantees.

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Chancellor Insists Help-To-Buy scheme Is Part Of A Healthy Property Market

Chancellor Insists Help-To-Buy scheme Is Part Of A Healthy Property Market

Chancellor insists that 95% mortgages underwritten by Government are Part Of A Healthy Property Market

The Chancellor of the Exchequer, George Osborne has hailed the wider recovery of the UK’s economy and taken a swipe at the critics of his housing policies, insisting that large home loans are part of a “healthy market” and “aspirational society”.

Several Government schemes have been announced since the start of the year aimed to get banks and mortgage lenders to increase both the availability and affordability of mortgages in the UK.

The Government’s Help-To-Buy scheme has been the most controversial, because the Government underwrites high loan-to-value (LTV) mortgages, removing some of the risk from mortgage lenders, enabling them to offer cheaper mortgage loans to borrowers who only have small value deposits.

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More UK Property Investment Needed according to a new study

The UK needs a Housing Revolution say FHC

The UK needs a Housing Revolution say FHC

A study by the Future Homes Commission (FHC) reckons that 3 times the current amount of new houses being built is needed in Britain in order to stop the blight of poor housing.

The FHC, set up by the Royal Institute of British Architects (RIBA), is calling for a housing revolution in the UK and wants another 300,000 houses each year to be built on brownfield land in areas close to almost all cities, towns and villages.

The FHC study states that such a proposal would create tens of thousands of new jobs and promote UK property investment and the plan would not cost the UK Government a penny so long as the dysfunctional way we build homes is radically overhauled.

The FHC’s recommended plan of action would see local authorities start rental housing developments for taxpayers by bringing their funds together to give the UK better houses.

Five main modifications are recommended which would see a radical improvement in UK housing, with the first being a rise in the amount of new houses built each year increasing from 100,000 to 300,000.

Future Homes Commission chairman, Sir John Banham, said: “There is no better time to tackle the UK housing crisis. After a year-long national inquiry, the Future Homes Commission has concluded a housing revolution is entirely possible and will lead economic growth.”

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