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3,000 More Affordable Properties
The government may have struggled to build 100,000 new homes in the UK during 2009; however the actions of property developers such as Waterloo Housing Group could potentially offer the Midlands 3,000 new affordable home in the next 3 years.
Funded by Barclays who are reported to have given them £100m in new debt finance; the aim behind this scheme is for Waterloo Housing to build a further 3,000 properties across Leicestershire, Lincolnshire and the West Midlands to help families on low incomes to invest in affordable properties as well as support shared ownership schemes.
And this has come as a welcomed response from lenders who previously have been reluctant to lend finance to such schemes…
In the last 15 months, Waterloo Housing has successfully entered into a merger with Eastern Shires Housing Group and Waterloo Housing Association to create a property portfolio of 17,500 properties.
However as this funding by Barclay’s clearly proves, this merger by Waterloo Housing has opened the doors for much more affordable property prices for homeowners and more jobs in the construction sector.
With a predicted 1,000 new property developments expected to be built every year, the UK property market can only hope for more funding schemes such as these to make an appearance.
More about the author of this article
Peter Franklin, Property Mentor Delegate
With 15+ years of property investment experience under his belt and an extensive knowledge of stocks and shares, Peter Franklin has learnt how to make a profit the hard way. If he has learnt anything from his time investing in property in the early 1990’s, right through to the height of the property boom of 2007, it is the importance of using proven investment strategies. Read more
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