Build Scotland Logo For Mobile
Time and date
CONSTRUCTION DIRECTORY
Share this page
Construction News
31/08/2010

New Homes For Mid-Market Rent

East Lothian Council is to take part in a new national initiative to increase the supply of homes available for mid-market rent.

At a meeting councillors agreed to participate in a new initiative from the Scottish Futures Trust and Scottish Government.

Under the National Housing Trust initiative (NHT), the council will part fund new-build homes from private developers that are unsold, or kick-start development on private housing sites that have been mothballed due to the economic conditions.

Around 15-30 new homes for rent will become available through the scheme. These will not be council houses, although the council may buy them if the private tenant chooses not to at the end of their initial tenancy.

The homes will be let at a mid-market rent level - 20% lower than an average private let - for between five and 10 years. At the end of that period, the properties will be sold. The council's loan will be repaid and any interest costs will be met by the developer. The Scottish Government guarantees both the repayment of the loan and the council's interest costs making the initiative zero-cost for local taxpayers.

eco insulate

Housing and Communities Minister Alex Neil said: "Continuing economic uncertainty puts into sharp focus the financial challenges facing the Scottish Government and cash-strapped local authorities as we strive to increase the supply of affordable homes across the country.

"The National Housing Trust model has the potential to help local authorities meet this intermediate housing need in their area by providing medium term affordable housing for mid-market rent.

"I am delighted that East Lothian Council and many others across Scotland are exploring imaginative approaches for providing much more affordable housing. I am happy to be able to offer support to the council to do this."

Cabinet member for Housing Councillor Stuart Currie told the meeting: "The National Housing Trust is a new option available to us and I'm pleased that we're able to introduce an innovate model of funding that presents no financial risk to local residents.

"The new properties will be in addition to the council and housing association build programmes, which are already delivering new homes, and our planning policies that insist developers contribute 25% of new build developments for affordable housing.

"By joining this scheme, we're offering more housing choices for people in East Lothian."

(GK/KMcA)

Latest Construction News

14/12/2017

GSS Developments has submitted plans to extend a new office building in Edinburgh. The company, which is currently delivering 2 Semple Street in the Exchange District, is planning to add a further 5,000 sq ft glass-encased sixth floor to help boost the amount of office space on site. Currently, 2
14/12/2017

Up to £190 million is to be invested in a roads improvement programme across North Lanarkshire. The Glasgow City Region cabinet has approved the strategic business case for the Pan-Lanarkshire Orbital project, which will boost the regeneration of the former steelworks site at Ravenscraig and create
14/12/2017

Work on a new housing development in Invergordon is now complete. A total of 19 houses have been built on the former derelict Victoria Garage site on Invergordon High Street. The Dewdale Court scheme has been chosen as a pilot for a new collaboration between the Highland Council, NHS Highland with
14/12/2017

Emergency repair works to Lowood Bridge near Melrose are now complete. The B-listed structure, which has reopened to cars and light vehicles only, was closed earlier this month to allow emergency works to be carried out to remove the parapet walls. Despite the closure due to last until 18 December
14/12/2017

Renfrewshire Council has backed regeneration plans for Paisley's West End. Around 150 new homes will be built in the area after a 'masterplan' developed by the council and its partner Sanctuary Scotland was approved by Councillors on Tuesday, 12 December. Sanctuary Scotland will now develop plans
14/12/2017

Greenock-based housing association River Clyde Homes has picked up award for its success in handling complaints. Following an independent assessment by HouseMark Scotland, River Clyde Homes has had its approach to managing and learning from complaints accredited for three years. The complaints acc
13/12/2017

Carillion Powerlines has secured a £11.6 million contract to carry out electrification work on the Shotts line. The company will deliver enhancements to nine stations on the route between Holytown Junction and Midcalder Junction. Features include platform reconstructions and renewals and enhanceme
13/12/2017

Work to build 22 new 'affordable' homes in the Highlands is now complete. Simpson Builders has handed over the £2.8m apartment scheme at Dingwall to Albyn Housing Society, helping towards the organisation's plans to build 750 new homes in the region by 2020. The Scottish Government provided £1.4m
13/12/2017

Breedon has agreed a £16.5 million deal to acquire four quarries and an asphalt plant from sustainable buildings group, Tarmac. The company will pay £4.9m in cash and transfer 27 of its readymix plants to Tarmac. The deal, which is expected to close in the first half of next year, is conditional on
13/12/2017

Work to install a new platform at Edinburgh Waverley railway station is now complete. The new 204-metre-long platform 12 entered into service on Sunday, 10 December. Located to the western side of the station, the scheme forms a key part of the Edinburgh Glasgow Improvement Programme (EGIP). It wi
Morris & Spottiswood LtdTHT Scaffolding Company Ltd.Pinefield Glass LtdStuart King Architecture & Design LtdRichardson and StarlingQTS Training LtdGrille City AluminiumAyrshire Trade Frames LtdMactint Stonework and Brickwork LimitedPinnacle Training
Terms and Conditions