Question reference: S5W-06198
- Asked by: Pauline McNeill, MSP for Glasgow, Scottish Labour
- Date lodged: 16 January 2017
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Current status: Answered by Kevin Stewart on 30 January 2017
Question
To ask the Scottish Government whether it has any new models planned for building new homes and, if so, what they are.
Answer
Working with strategic partners, including local authorities, housing associations, developers and private sector investors, the Scottish Government has supported the delivery of approaching 5,000 new affordable homes through innovative financing models – generating up to £650 million of housing investment in addition to our conventional funding routes.
We are pursuing further new models, particularly to deliver affordable, mid-market rent (MMR) homes through the MMR Invitation. Novel proposals that have the potential to deliver affordable MMR homes backed by Scottish Government funding and levering in private finance at scale are currently being assessed.
We are also finalising a Rental Income Guarantee Scheme (RIGS) to help kick-start delivery of institutionally backed high-quality new-build private rented homes at scale (known as Build to Rent). RIGS is being developed with the Private Rented Sector Champion and wider industry stakeholders and is designed to share rental income risk with investors/developers to support the emerging Build to Rent market in Scotland.