"We're doing something that hasn't been done in decades providing low-interest loans to build the affordable homes Londoners desperately need."
"There are so many good, affordable housing projects in our city that need some extra support to get going. These low-interest loans will help make these homes a reality."
"continue to work closely with government, councils and other partners"
"genuinely affordable homes"
London will receive £1.5bn in government-backed low-interest loans to housing associations as the capital's share of a £2.5bn national loan scheme. City Hall will administer the funding through a new Developer Investment Fund and offer loans at 0.1% interest over 25 years. The allocation, combined with £322m of previously announced grants, brings fund investment to £1.82bn. The loans aim to unlock stalled or complex developments and support construction of thousands of new homes. Housebuilding in London faces pressures from high interest rates, rising construction costs, building-safety related delays, and an 88% decline in house-building over the past decade.
Read at www.bbc.com
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