Member Article

£15 million boost for affordable homes in Cheshire and Lancashire

Nearly 300 affordable homes could be built in Cheshire and Lancashire after two local councils were given permission from the government to borrow up to £15 million.

Housing Minister Brandon Lewis has announced new powers for councils to help them build affordable homes across the country. The Minister confirmed that, nationwide, 22 councils will be able to borrow an additional £122 million over the next two years to build over 1,700 new affordable homes and support local growth.

Chester West and Chester Council has been granted permission to borrow £12.5 million to build 230 homes, and West Lancashire Borough Council can borrow £2.5 million for 39 homes.

But with £178 million still available, Mr Lewis argued that more councils should be putting themselves forward – especially as many have asked for the borrowing powers that are being offered.

House building is a central part of the government’s long-term economic plan. Since 2010, nearly half a million new homes have been built, including 200,000 affordable homes.

In 2012, the government changed the Housing Revenue Account subsidy system so councils keep all the rents they collect from their homes and all profit from any sales of houses or land, giving them the freedom to invest them in building new homes.

With just one week left to bid for the second round of extra funding available, Mr Lewis challenged councils who had not already done so to come forward.

Housing Minister Brandon Lewis said: “I’m giving borrowing powers to 22 councils who, over the next two years, will use that to build over 1,700 new affordable homes for their communities.

“It’s one of the many things we’ve done that have got Britain building – with house building levels now at their highest since 2007 and climbing.

“But with £178 million additional borrowing still up for grabs, I want more councils to do their bit by following in the footsteps of these 22 and bidding for the very powers they asked for.”

This was posted in Bdaily's Members' News section by Simon Malia .