£130m new housing grant scheme launched

An innovative new housing finance scheme was launched by the Welsh Labour Government this month.

The package for the  Welsh Housing Finance Grant Scheme includes around £130 million of Welsh Government funding over the next 30 years and will contribute directly to the building of over 1000 new affordable homes across in Wales.

Twenty Housing Associations are taking part in the scheme, with coverage across all 22 local authority areas in Wales. Construction work on the first projects will commence in 2013.

As part of the scheme, M&G Investments are providing the main new source of finance for Wales’s Registered Social Landlords, in light of the lack of long term funding currently available from the banks and building societies.