£3 billion affordable housing boost to deliver 20,000 new homes

16 February 2024

The government has announced further financial support for the provision of affordable homes.

20,000 new affordable homes will be built across the country due to a £3 billion increase in a government-backed loan fund which opened 12 February 2024.

The Affordable Homes Guarantee Scheme 2020 provides low-cost, flexible and long-term loans to help fund investment in new and existing affordable homes across England, including those for social rent, affordable rent and shared ownership.

As part of the scheme, providers will be able to apply for loans to help make homes fit for the future. These energy upgrades, such as solar panels, could potentially save tenants hundreds of pounds on their energy.

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