The Scottish Government announced today (Wednesday 11th June 2012) that it will provide a £10million loan fund to kick-start stalled housing projects with funding awarded to three projects.
The House-building Infrastructure Loans Fund offers help to housing builders, unable to attract private-sector finance, to invest in the infrastructure needed for projects to go ahead.(1)
Commenting on the announcement, Andy Young, Policy Manager at the SFHA said:
“This announcement shows that the Scottish Government understands the importance of providing more new homes to help meet need and boost the economy.
“Scotland’s housing associations and co-operatives, the major developers of affordable housing in Scotland, have shovel-ready housing projects across the country which could go ahead given the right funding.
“Having seen large cuts to the budget for new-build social rented homes in recent years, the SFHA has argued long and hard that directing spending at this area is vital for meeting the serious need for more homes (2), and for boosting employment.”
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1) The Scottish Government press release is available HERE
2) There is a serious shortage of quality affordable housing across Scotland, with approximately 335,000 households on waiting lists. Statistics supplied to SFHA by the Scottish Housing Regulator (5 July 2011) based on data in the 2009-10 Annual Performance and Statistical Return.
3) The SFHA was established in 1975 and has around 170 members providing affordable housing and wider community services in Scotland, as well as a further 200 commercial members. The SFHA is owned by its membership and exists to support the work of housing associations and co-operatives in Scotland by providing services, advice and good practice guidance.
4) The SFHA is the voice of the principal builders and managers of new affordable housing for rent in Scotland. Housing Associations own and manage around 40% of the country’s affordable rented housing stock, over a quarter of a million homes across Scotland.
5) Housing associations and co-operatives are not-for-profit bodies regulated by the Scottish Housing Regulator.