The Scottish Government has announced that their affordable homes scheme has launched a further procurement round following significant demand from local councils and developers.
The scheme allows tenants the chance to rent below market rates for five to ten years before being given priority to buy the property at the end of the rental period.
The scheme is already delivering over 1000 new affordable homes in 10 different council areas and with 13 developers across Scotland. Aberdeen, Dundee, Edinburgh and Fife councils are participating in the latest procurement round.
|Council||Indicative number of units to be procured|
|Aberdeen City Council||50|
|The City of Edinburgh Council||80 – 250|
|Dundee City Council||40|
|Fife Council||Developments of around 50 units each will be considered|
The National Housing Trust initiative (NHT) gives developers and councils the chance to jointly fund the purchase of new homes.
The National Housing Trust initiative (NHT) was developed by the Scottish Government and Scottish Futures Trust (SFT) with input from housebuilders, councils and lending institutions.
Lonend development, Edinburgh – part of the Affordable Housing Scheme
Housing Minister Margaret Burgess said:
“The scheme has already been hugely successful, providing hundreds of new affordable homes for families throughout Scotland, as well as stimulating growth and supporting jobs in the construction sector and wider economy.
“This new procurement round will build on the good work already carried out and create even more affordable homes in Aberdeen, Dundee, Edinburgh and Fife.”
Christa Reekie, Commercial Director at the Scottish Futures Trust said:
“The four local authorities have already participated in NHT and we are delighted that they have decided to procure more homes under NHT.
“Whilst meeting the needs for affordable housing for rent, the NHT initiative, currently worth £150 million, has also been designed to aid the economy and keep people in jobs by allowing developers and house builders to kick-start construction on stalled sites.”