Levelling Up Home Building Fund

Infrastructure and Construction

Record date: 31 March 2026

Whole-life cost: £2.0bn
Published schedule: 25/11/2020 – 31/03/2032
NISTA delivery confidence: Not disclosed
Senior responsible owner: Nigel Barclay

What the project is for

The Home Building Fund supports small and medium sized housebuilders, infrastructure developers and residential development lenders to grow and increase supply. The fund also aims to diversify and build resilience in the housing market, foster innovation including Modern Methods of Construction and leverage greater private investment into housebuilding. Funding is provided on a recoverable basis through direct lending, equity into partnership arrangements and lending alliances with other lenders. This helps market participants to grow and creates an environment where prospective new entrants, including institutional investors, feel confident and supported to enter the residential sector and existing operators are able to increase their resilience and develop a trading record that will assist them in scaling up their businesses successfully.

Departmental delivery commentary

The SRO Delivery Confidence Assessment (DCA) rating at 25/26 Q4 remained at Green. Most funding has been committed, with enough headroom to support projects that need further investment. Delivery is on track to meet or exceed the c.54,000 homes target, with revised forecasts increasing expected delivery to around 69,000 homes. This reflects strong progress in securing new commitments during 2025/26.

Schedule

There has been no change to the schedule for the programme.

Cost

The WLC remains unchanged, despite the need for some reprofiling across financial years.

Benefits

The monetised benefits relate to those associated with the additional housing impacts of the programme. These benefits are a high level estimate based on the Value for Money (VfM) assessment for projects as they are monitored and flow through the Assessment Framework (AF). The monetised benefits are primarily based on estimating the Land Value Uplift (LVU) from a change in productive use, in line with MHCLG appraisal guidance and the VfM framework for the programme.