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UK Homebuilders Agree £100 Million Package to Fund Affordable Homes

A CMA consultation runs until July 24 before the £100 million payment could be secured under legally binding data-sharing restrictions.

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Caption: Housebuilders have agreed to pay £100m towards affordable homes to avoid a regulator's decision on whether they broke competition law. (Photo: Joe Giddens/PA)

Overview

  • Seven major housebuilders, including Barratt Redrow, Bellway and Persimmon, have offered a combined £100 million to support affordable housing programmes across all four UK nations.
  • The funds are expected to help finance hundreds of new homes for low-income families, first-time buyers and vulnerable households.
  • The companies have proposed legally binding undertakings to curb future sharing of sensitive data, such as sale prices, viewing statistics and buyer incentives.
  • This £100 million package is the largest commitment the CMA has secured under voluntary undertakings and allows the probe to close without a ruling on illegality.
  • The CMA will run a public consultation on these proposals until July 24, after which the undertakings could become binding and conclude the investigation.