JV North has welcomed Homes England’s decision to increase the amount of grant that can be claimed when schemes start on-site.
Previously the amount of funding for schemes in the 2021/26 Affordable Homes Programme was 75% at the start and 25% on competition.
Now, Homes England funded schemes will receive 95% when they begin with the remaining 5% provided once the home has been built.
JV North Chairman and Chief Executive at Weaver Vale Housing Trust, Wayne Gales (pictured above), said: “The current economic climate is very challenging for housebuilders so this flexibility is warmly welcomed.
“From our recent conversations with Homes England it’s clear that they recognise and understand the pressures we are facing in our commitment to build more properties.
“We have an excellent relationship with them dating back to 2007 and this is proving vital in our bid to address the ever-growing housing crisis and need to build more affordable homes for people across the North West.”
Consortium members will build over 4,000 homes in the 2021/26 Affordable Homes Programme on top of more than 4,550 delivered in the 2016/21 programme.
JV North members have built the equivalent of 3.5 homes every working day across the North West for the past 15 years.