Friday, 4 October 2013

Landlords Pull Out Of Build to Rent Scheme

A number of social landlords in the north of England are being squeezed out of the government’s £1 billion build to rent scheme. Housing associations that received indicative cash allocations from the first £700 million round of funding in March are now pulling out because demands from the HCA are making business plans unviable in the region. Several associations and eight councils may no longer be able to use equity loans to build more than 1,000 private rented homes because the HCA is insisting on receiving annual returns on the funding. Landlords claim this means their models no longer stack up in the north of England, where property values and rents are lower. Read more on Inside Housing.

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