Innovative funding model easing housing pressures in Falkirk.

Almost 800 affordable homes for rent, with a total value of £115 million, have been delivered through the National Housing Trust initiative (NHT) over the last three years, with 27 being built in Falkirk.

A further 850 NHT homes have received approval across Scotland through the original and subsequent versions of the initiative.

The Scottish Government, with support from the Scottish Futures Trust developed the original NHT model for councils and developers.

Under the original version of the model, developers and local authorities jointly fund the purchase of newly-built homes, which are then made available for rent at below market rates.

The money borrowed by councils to help fund the purchase of NHT homes in their areas is underwritten by the Scottish Government.

Falkirk West MSP Michael said in welcoming this news:
“The National Housing Trust Initiative is the first guarantee-based model for housing in the UK and I’m pleased that some 27 homes have been built in Falkirk which will help ease some of the pressures on those applying for social housing.. It brakes new ground whilst supporting jobs in the construction industry and wider economy.

“The initiative is well on track to deliver over 2,000 much-needed new homes in communities across the Scotland which I’m sure Falkirk will also benefit, all without the need for grant subsidy.

“I know that the Scottish Government is doing everything possible to maximise investment in housing and deliver our target of 30,000 new, affordable homes over the lifetime of this Parliament.”