14^th May 2014

The Homes and Communities Agency is running a "competition" to invite bids for a share of their new "Builders Finance Fund", of £525 million of capital finance. The fund is to help housing sites to go under construction quicker and to help those house builders to finance new housing developments to ease the housing crisis.

Currently there are housing developments of up to 250 units that have either been shut down or stalled and the government plans to unlock the bottleneck of achieving finance.

The private companies that are in this stalemate situation are those who are being invited to bid for part of the pot. They must be able to provide value for money to the taxpayer and  can be started or-re-opened quickly.
 
The fund is open for bids so that the successful projects will receive funds in 2015/16 and 2016/17.
The Homes and Communities Agency (HCA) will run an open competition for the fund for which investments will be made in 2015/16 and 2016/17.

Obviously the projects will go under due diligence and the HCA (Homes and Communities agency) will give their priorities and eligibility criteria within the prospectus on the HCA's Partner Portal.

In the prospectus it outlines exactly what is available in levels of support and how to access it. All expressions of interest have to be sent through the portal and users must be registered or will need to register if they have not already done so.
 
Bidding will close at noon on 25 June 2014 and contracts are hoped to be in place by February 2015.