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Thu March 28 2024

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BBC reveals kick-start fund failure

15 Oct 15 After 18 months’ operation, the government's Builders Finance Fund (BFF) has released just £1m of its £525m kitty.

Failure of the scheme, designed to kick-start stalled house-building projects, has emerged from a Freedom of Information request submitted by the BBC.

The fund was launched in April 2014, with the declared aim of reviving the 13,000 homes stalled by the 2008 housing crash. In September 2014 the Homes & Communities Agency published a shortlist of 160 stalled housing developments that it was considering for support. So far, just two developments – one in Cornwall and one in Essex – have benefited from BFF funding, sharing a total of £1,059,522.

The BFF scheme ends in March 2017.

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