Housebuilder pledges hundreds of new homes after £12m funding support

A £12m funding package from the Homes and Communities Agency is set to see hundreds of new homes built across the Midlands.

Tamworth-based housebuilder Lovell is the recipient of the funding, which is intended to help ease the UK’s housing shortage.

The money – allocated through the Shared Ownership and Affordable Homes Programme 2016 to 2021 – will enable Lovell, whose Midlands regional office is based at the Woodgate Business Park, Halesowen, to build 420 shared ownership homes.

The new homes will be built by Lovell across the UK but principally in the Midlands, Yorkshire, Greater Manchester, Merseyside, and the Bristol areas.

The news of the funding boost for Lovell came as the Government announced a major expansion of its £7bn affordable homes programme, designed to significantly increase the number of affordable homes available.

Jonathan Goring, managing director, Lovell, said: “The success of our funding bid reflects Lovell’s strong record of helping people into home ownership through the delivery of high-quality homes available through a range of tenures.

“We’re delighted to be able to help even more aspiring homeowners across the UK on to the property ladder using this newly-secured funding. Our regional teams look forward to starting construction work on these much-needed new homes.”