Reports state, funds worth £7 billion is being released by the UK government to help build more new affordable homes in the country.

Housing providers have now the accessibility to apply for a share of the fund, which was allocated an additional £1.4 billion at the Autumn Statement to deliver 40,000 new affordable housing starts across the country.

Sajid Javid, Communities Secretary stated that the Government is also expanding the existing affordable homes programme that will offer a wide range of ways of helping people into home ownership and to provide support for those in need of affordable housing.

He also clarifies that the expansion of the variety of tenures available that includes affordable rent, shared ownership and Rent to Buy, the programme will help meet the housing needs of a wider range of people in different settings and at different stages of their lives.

“By encouraging the delivery of more homes under a variety of tenures, we can create a housing market which truly works for everyone, meeting the diverse housing needs of the country”, he adds.

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