One of the Government's measures to improve levels of activity in the housebuilding industry is the "Get Britain Building" programme under which £420 million is earmarked for unlocking development on stalled sites with existing planning consent for new housing.
This scheme is open to private sector developers with stalled sites with consent for a minimum of 25 houses available to start in 2012 with completion to occur before December 2014. Support is proposed by way of loans at commercial rates or by taking equity in the sites. In some cases with marginal viability they will even consider taking equity with an element of profit share above specified thresholds of receipts.
The scheme was announced in November but arrangements for application were not published until the week before Christmas. Additional guidance has now been published with a reminder that the deadline for applications in 30 January 2012.
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