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Government allocates £83m to Kickstart scheme

Mortgage Solutions | 09 Mar 2010 | 11:27

Mortgage Solutions

The Government has allocated nearly £83m to build 5,700 new and affordable homes in the second round of its £1bn Kickstart scheme.

Construction worker

The cash will get 87 stalled developments running again, giving more than 2,200 first-time buyers the chance to take a step onto the property ladder.

Most of the homes will be available through the Government's Homebuy Direct scheme, which helps first-time buyers, while 802 homes will be for social rent and 345 homes will be for other types of low-cost home ownership.

Developers receiving funding through the scheme are expected to provide jobs and apprenticeships for local workers.

Sir Bob Kerslake, chief executive of the HCA, said: "With, this second round of funding will now help many more schemes to get back on track. The due diligence process for selecting these successful projects has been rigorous, assessing factors such as value for money, design, local fit and sustainability to help ensure the homes meet the needs of the people who will live in them."

Housing minister John Healey added: ‘In this recession, the government has not stepped back and left the homes and jobs we need to market. We are using public funding to keep Britain building through the downturn.'

The Kickstart programme, which was announced in the 2009 budget, is targeted at stalled sites and supports construction of housing developments.

Categories: Industry | Trade Bodies
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