Buy now, pay next year. It’s something you usually hear when you buy a new sofa or TV, not a new house. Now Grant Shapps is introducing a “build now, pay later” scheme for new homes.
The Housing Minister is leading a new government scheme to help boost the struggling house building industry and allow house builders to build and sell new homes before having to pay for the land that they are built on.
This “buy now, pay later” scheme is being backed by the Homes and Communities Agency and will have a big effect on the construction industry and potentially create thousands of new jobs for electricians.
The initiative is expected to create 18,000 jobs for contractors and will see an estimated 3,000 new homes built this year. The scheme is expected to deliver 60,000 new homes over the next decade.
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