Just 12 affordable new homes to be built in Rochdale in multi-million pound deal

Housing Minister Kris Hopkins has announced 429 new affordable homes are to be built in Greater Manchester, however just 12 of those homes will be in Rochdale.

The number of homes to be built per town in Greater Manchester will be 152 in Wigan, 86 in Oldham, 69 in Bolton, 58 in Salford, 52 in Manchester and 12 in Rochdale.

Through the Affordable Housing Guarantees Scheme the government unlocked up to £3.5billion of cheaper debt for Affordable Housing Finance, enabling it to lend this on to housing associations to build new homes to rent for families in need.

Affordable Housing Finance issued its first bond to raise the funding for the schemes, worth £208million and priced at 3.8% – the lowest priced bond in the affordable housing sector’s history.