Housing funds on offer

MONEY will be available for Oldham Council if it is decided more housing is needed in the borough.

But to benefit, the council would have to identify plans for growth, according to Housing Minister Caroline Flint.

Ms Flint yesterday said £250,000 was being handed over to be shared between Manchester, Trafford, Salford and Bolton, which want to build a combined 11,250 more homes than previously planned.

The funds will aid the councils in their bid for a slice of £100 million available nationally to help towards the costs of improving the infrastructure — schools, hospitals and other facilities — needed to support the new homes.

Oldham Council’s Cabinet Member for Community Services and Housing John McCann said: “The council is aware of the Greater Manchester housing growth bid which has been endorsed by the Association of Greater Manchester Authorities. 

Initiatives

“The bid relates to areas of particular high housing demand for development and, in relative terms, Oldham’s development demand is less.

“In Oldham, we are actively pursuing a range of initiatives to improve the supply and mix of housing, including affordable housing, through projects such as Housing Market Renewal and the Gateways to Oldham Private Finance Initiative scheme.”

Ms Flint said: “Despite the credit crunch the need for affordable housing — and the aspiration to build up to 240,000 each year — is as important today as it has ever been, and is still a target I want to work towards.

“That means being ambitious, but also practical and realistic, acknowledging not only the difficulties faced by individuals and families, but for those who work in the house building industry.

“We are determined to continue to do everything possible to promote long-term stability and fairness in the housing market.”

Other measures outlined yesterday included a rent first, buy later scheme to help first-time buyers to get on to the property ladder.

Households earning less than £60,000 will be able to rent a new home at a discounted rate for two to three years with an option to buy a part of it once they have saved enough for a deposit.

Councils who help make land available for development will also get financial rewards, and ministers are also examining plans for mortgage rescue schemes to cut repossessions.