Insurance News Archive
Get Britain Building Fund could lay foundation for property owners
A spokesman for the Home Builders Federation (HBF) has hailed the creation of the Get Britain Building Fund as a "very welcome move" claiming that it could prove a real boost for property owners and the market.
The fund, which weighs in at £400 million, is aimed at restarting stalled projects which may have failed due to the onset of the recession and problems accessing funding.
The HBF believes that not only will it get houses built quicker and provide buildings for sale and rent, but that it will also create jobs for people across the country.
Steve Turner, spokesman for the HBF, said: "What it will do is provide upfront financing to get stalled sites started. A lot of sites are currently stalled because of the difficulty of companies getting finance, so this will unblock that constraint.
"This is money that can be paid back as the schemes progress."
The scheme was unveiled on Monday November 21st, with the aim of doubling the number of homes built each year and creating tens of thousands of construction jobs.
Posted by Judith Stevenson
28 Nov 2011
