Cash to Speed up The Building of New Homes For Private Rent

Housing Minister Brandon Lewis has signed an agreement to help unlock £3.5 billion in funding to build new homes specifically for private rent across the country with PRS Operations Limited, a subsidiary of Venn Partners LLP. The government’s private rented sector housing guarantee scheme enables landlords of new rented homes to use a government guarantee to secure long-term financing. This investment will increase the supply of purpose built, professionally managed private rental homes giving tenants more choice of better quality homes. Initially, up to £3.5 billion in government-backed loans will be made available to landlords looking to invest at least £10 million for new homes available for private rent – with the option to increase this to £6.5 billion in future. Read more on the Gov.UK website.