Clearing House launched

Nov. 1, 2008
The government has announced the first phase of its National Clearing House, in which it will buy unsold properties and sell them as affordable housing. According to Communities and Local Government (CLG) the £13 million funding for the first phase of the buy-up will put 335 affordable homes on the market, primarily for social rent. Families who would normally be on a council waiting list will be entitled to the housing. Through the clearing house, launched by the Housing Corporation, housebuilders can offer their unsold stock for affordable housing and receive early feedback on whether their properties are suitable. The scheme will be run between the Housing Corporation, Bloor Homes and housing provider Sanctuary group, and the £13 million funding is drawn from the government’s £200 million tranche to purchase unsold stock off the open market, as announced in the summer. <br>

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