Homes England announces £10m investment in shared ownership fund

The government has today announced that it is investing £10m into the launch of a new shared ownership fund.

Homes England, the government’s housing agency, is investing £10m with M&G Investments, which it says will accelerate the delivery of 2,000 affordable homes.

The homes come as part of M&G’s partnership with The Hyde Group, which will provide Hyde with capital to grow its development ambitions.

Homes England’s commitment to the fund is part of its aim to provide investors with greater confidence that housing, including shared ownership, has “strong government backing”.

Gordon More, interim chief executive at Homes England, commented: “Securing new institutional capital to increase the delivery of new affordable homes is a priority for Homes England.

“Today’s investment is a signal to both domestic and international institutional capital that the government supports sustainable long-term investment in affordable housing to meet the needs of communities across the country.

“M&G has been innovative and successful investing in both market rent and affordable housing. We welcome the opportunity to work with M&G again and to support our strategic partner, Hyde.

“We look forward to seeing the fund grow and provide access to high quality new homes.”