Housing and Planning Minister Brandon Lewis signed the agreement on the 11th of December. This agreement means that there will be 3.5 Billion Pounds available in the form of government backed loans to Landlords who are able to invest at least 10 Million for new homes available for private rent across the country.
Danny Alexander, Chief Secretary to the Treasury said "Unlocking £3.5 billion of funding for the private rented sector will ensure that we continue to deliver the homes that people across the country need, as part of creating a stronger economy and fairer society. Housing starts are now at a 6 year high thanks to this government’s focus on building more homes.
Investment in housing is essential for the future of an economy. That’s why for the first time in a generation, this government plans to directly commission homes, as well increasing investment in affordable housing to ensure the delivery of 275,000 affordable homes over the next 5 years. These guarantees will help to deliver more homes in communities across Britain."
Whilst this will go some way in helping out with the housing shortage crisis and also whilst I'm pleased to see the government being proactive about the private renter sector, I can't help but question, what about the renters already in their homes who are struggling to meet their bills because of ever increasing rent prices? Those renters living in unsuitable conditions? Can't wait for new homes to be built as their landlord has decided he wants rid so uses the old section 21 trick and evicts them without any explanation?
Its another case of our Government talking a good fight about future actions and investments but not actually doing anything about the immediate issue in hand affecting people in the here and now, or more to the point doing anything about the issues that don't affect them or bring in capital gain!
Good effort chaps, but must try harder!