Emma Reynolds – 2014 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Emma Reynolds on 2015-01-14.

To ask the Secretary of State for Communities and Local Government, how much of the funds for the Builders Finance Fund has been (a) allocated and (b) spent.

Brandon Lewis

The fund will make investments over two years from 2015/16 to 2016/17. The funds must be drawn down by 31 March 2017.

The shortlisted bids to the Builders Finance Fund are currently undergoing due diligence and have the ability to deliver over 10,000 new homes. We have recently expanded the scope of the fund to enable smaller builders with schemes between 5 and 15 units to access this funding and the Homes and Communities Agency are currently engaging with the market to seek further bids for such schemes. The first contracts are due to be completed in the Spring with the first homes expected to be started in the first half of 2015.