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Government gives funding for new homes

Published on Thursday, 12th January 2017 in Homes and property news

The Council has been successful in securing two different funding streams from the Government that will help hundreds more residents to get on the housing ladder.

Last week, on Tuesday (03.01.2017),  the Council welcomed the news that it was amongst the first 30 organisations to receive a portion of the Government’s £1.2 billion Starter Homes’ Land Fund. 

This was closely followed by an announcement on Thursday (05.01.2017), from Communities Secretary, Sajid Javid MP, that Rotherham has also been allocated  £6.81m to deliver  an additional 227 much needed new, affordable homes in the borough as part of the  Government’s Shared Ownership and Affordable Homes’ Programme (SOAHP)

Rotherham Council is one of the first authorities in the region to benefit from this programme that will  see a range of affordable housing options being built for residents.

Tom Bell, Assistant Director of Housing and Neighbourhood Services, said: “We are pleased that Rotherham again is amongst the first authorities to benefit from this round of funding and this fits with our ambitions to make sure that Rotherham is a place where opportunity is extended to everyone, where people can grow, flourish and prosper, and where no one is left behind. 

“Our strategy is to increase the amount of decent, quality, affordable homes for rent and sale over the next few years to ensure that we have enough housing within the reach of people on modest incomes, as well as tackling the urgent need for more homes in the Borough and contribute to the wider regeneration of Rotherham.”

The Council will now work with development partners and the Shared Ownership and Affordable Homes’ Programme to scope out the options and  get the build underway. By expanding the different types of home ownership available, to include affordable Rent, Shared Ownership and Rent to Buy, the programme will help meet the housing needs of a wider range of people in different circumstances and at different stages of their lives.

Rent to Buy is where rents set at or below 80% of the local market rent for a set time period, giving tenants the opportunity to save for a deposit and then the option to buy their current home.

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