By Daniel Hunter

The British Property Federation (BPF) has welcomed the detail of a £700m government pledge to build up to 10,000 new build-to-let homes.

In a Written Ministerial Statement Housing Minister Mark Prisk announced the first tranche of winning bidders of the Build to Rent Fund, which was increased from £200m to £1bn in last month’s Budget.

The BPF welcomed the announcement and the Government’s continued no-nonsense approach to delivering the findings of the Montague Review.

“The bids show the depth and breadth of interest from investors, to housing associations, house builders and construction companies. There are some big names, but also smaller innovative companies, and it all bodes well for round two," Ian Fletcher, director of policy at the British Property Federation, said.

“The further members of the task force have an excellent breath of experience and skills and under the stewardship of Andrew Stanford should act as a good support function within Government for local authorities and this burgeoning build-to-let sector."

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