The Government confirmed that the regeneration agency, English Partnerships, has purchased nearly 100 surplus NHS sites for the purpose of supplying more affordable homes. In addition to this, English Partnerships is reviewing more than 700 further vacant and surplus sites, including land owned by the Ministry of Defence and vacant public sector sites next to railway stations in London.
Mosaic Homes announced it is to set up a sweat equity scheme, which invites applicants to build their own home and in return receive 25% equity in it. The initial scheme will seek to build five one-bedroom new homes in Hackney. It includes the provision of training for successful applicants.
As part of a wider package of measures aimed at increasing housing supply and the number of people accessing the property ladder, the Government launched the subsidised mortgage scheme. Under the proposed scheme, the Government and lenders would share the cost of a mortgage, with the borrower possibly negotiating directly with bank.
Other proposals include: