Minister Hails Housing Scheme
Almost 800 affordable homes for rent have been built in the last three years with the help of a scheme set up to boost low-cost housing, the Scottish Government revealed.
Almost 800 affordable homes for rent have been built in the last three years with the help of a scheme set up to boost low-cost housing, the Scottish Government revealed.
As well as the ÂŁ115 million of homes that have been completed, a further 850 such properties have been approved for development under the National Housing Trust (NHT) initiative.
Housing minister Margaret Burgess said the ground-breaking scheme is well on track'' to providing more than 2,000 homes. The Scottish Government, together with the Scottish Futures Trust, developed the NHT model to help councils and developers build more affordable homes for rent.
Under the original version of the scheme, developers and local authorities would jointly fund the purchase of new built properties, which would then be made available for rent at below the market rates.
Money borrowed by councils to help fund the purchase of NHT homes in their area is underwritten by the Scottish Government.
Mrs Burgess said: NHT was the first guarantee-based model for housing in the UK. It broke new ground and is easing housing pressures locally whilst supporting jobs in the construction industry and wider economy.''
The minister, who was visiting the first NHT development in Dundee, added: The initiative is well on track to deliver over 2,000 much-needed new homes in communities across the country, all without the need for grant subsidy.
The Scottish Government is doing everything possible to maximise our investment in housing and deliver our target of 30,000 new, affordable homes over the lifetime of this Parliament.''
Christa Reekie, commercial director at Scottish Futures Trust, said: The NHT programme has created a new and successful way to deliver affordable rent housing and key to its continued success is the unique partnerships that are being created among SFT, councils and house builders.''
John Low, managing director of Stewart Milne Homes North Scotland, said: Maintaining a supply of new homes is a key element of Scotland's economic development landscape and the NHT has proved to be an innovative and successful means of meeting part of the overall demand.''