Major boost for MTVH’s new affordable home building efforts

03 September 2021

Summary: Over 2,500 new affordable homes are set to be built by MTVH as almost £200million of funding is secured.

In a major boost for MTVH’s efforts to build affordable homes that will help thousands more people to have a home and the chance to live well, almost £200m of government funding has been secured this week.

The £191.4m secured through the government’s Affordable Homes Programme will see 2,535 new homes delivered between 2021-26.

In London, £128.8m of funding has been secured with our partners at the Greater London Authority (GLA), which will see 1,035 homes built, over 50% of which will be homes for the most affordable ‘social rent’. The remainder will be homes for affordable homeownership, demonstrating the critical role MTVH is playing in tackling the housing crisis by providing the full range of homes that are so desperately needed.

Alongside this, it was also announced this week that MTVH has been selected as a strategic partner with Homes England – the government’s housing delivery agency – to deliver 1,500 new homes. This will see MTVH supported with £62.6m of funding.

As one of the largest not-for-profit housing associations in the country, MTVH is set to build over 6,000 new homes in the next 5 years. This includes the major estate regeneration taking place at Clapham Park in Lambeth, South London, and the building of much needed new homes at the former Shredded Wheat Factory site in Welwyn Garden City.

Geeta Nanda OBE, Chief Executive of MTVH, commented:

“Building new affordable homes is at the heart of what we do at MTVH, because we know just how important it is that more people have a home and the chance to live well.

“The funding we have secured this week shows the confidence that our partners have in our ability to deliver, and we are looking forward to continuing to work with them.”

The £191.4m of funding secured under the 2021-2026 Affordable Homes Programme marks a more than doubling of the funding awarded under the current 2016-2023 Affordable Homes Programme.