The Housing Finance Corporation pledges £550m to support housing associations
The funding aims to give housing associations extra capacity to unlock new developments and invest in existing homes.
The Housing Finance Corporation has pledged £550m to support affordable housing across Wales, Scotland and Northern Ireland.
The funding will be delivered through three ring-fenced programmes: £250m for Wales, £200m for Scotland and £100m for Northern Ireland.
The funding aims to give housing associations extra capacity to unlock new developments and invest in existing homes.
It can be used for new developments and for portfolio investment, including retrofit and remediation works.
David Bridgen, senior commercial director at The Housing Finance Corporation, said: “Affordable housing demand continues to outpace delivery across Wales, Scotland and Northern Ireland.
“Housing associations are working hard to meet that challenge, but rising costs and competing investment pressures mean additional funding is needed to unlock viable schemes.
“Our £550 million funding pledge demonstrates our long-term commitment to supporting the sector with financial solutions that help housing associations build and improve homes and create sustainable communities across the devolved nations.”
Bridgen added: “By creating dedicated funding capacity, we want to give partners the clarity and confidence they need to plan ahead, accelerate development pipelines and deliver more affordable homes for the communities that need them most.”
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