Prime Minister Theresa May has promised housing associations £2bn worth of long-term funding for affordable housing.
May announced the funding for the construction of new social and affordable housing in a speech at the National Housing Federation summit in London yesterday.
Under the scheme, housing associations will be able to apply for funding stretching as far ahead as 2028/29. May told representatives from housing associations in the audience: “Doing so will give you the stability you need to get tens of thousands of affordable and social homes built where they are needed most and make it easier for you to leverage the private finance you need to build many more.”
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