New £10m Housing Intervention Fund for more accessible homes is announced

Telford & Wrekin Council is set to invest a further £10m into creating more sustainable, accessible and affordable homes across the borough.

New £10m Housing Intervention Fund for more accessible homes is announced

The council approved a new Housing Intervention Fund, which aims to deliver new homes and support the borough’s most vulnerable residents, at its cabinet meeting today (Thurs).

This Intervention Fund will allow the council to step in and deliver outcomes which meet local housing need and build on a series of housing programmes and initiatives which have already been implemented across the borough.

Funding will help to increase the range and choice of affordable homes including specialist and supported housing.

It will also help to maintain independent living across the borough and help first time buyers to access the property market and become home owners.

Stalled development sites in the heart of Telford and Wrekin communities will be targeted through the fund to bring new homes back into play.

As part of the Housing Intervention Fund, the council has also proposed a new Telford Home Loan Scheme to support households across the borough.

With so many households affected by the current financial market, the council is looking to provide affordable and flexible loan opportunities which include home improvement loans, energy efficiency loans, landlord loans, empty property loans and loans for first time buyers and key workers.

Telford & Wrekin Council has continued to deliver over 1000 new homes each year, including over 300 affordable homes per annum.

The additional funding will complement programmes and strategies already introduced by the council such as the Supported and Specialist Housing Strategy and Accessible Homes Programme.

Up to 940 new supported and specialist accommodation units, helping residents with mental and physical disabilities, care leavers and veterans, are set to be delivered between 2022 and 2025 through the strategy.

Councillor Richard Overton (Lab), Telford & Wrekin Council’s Deputy Leader and Cabinet Member for Housing, Enforcement and Transport said: “In Telford and Wrekin we are focused on supporting our residents by delivering more accessible, sustainable and affordable homes.

“We have made great strides to drive new housing developments forward locally but we know there is more to do.

“The Housing Intervention Fund aims to add value and tackle failures in the market – creating more housing opportunities for our residents which meet their needs.

“The fund will build on current housing schemes and strategies and isn’t intended to replace or duplicate investment or delivery by existing partners such as developers and Homes England.”