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HCA forms group to secure new private funding for housing

A new advisory group with a wide ranging remit to look at future sources of private finance for housing has been established by the Homes and Communities Agency.

The Housing Finance Group, made up of industry experts and chaired by Nigel Hugill, the recent executive chairman of Lend Lease, will look at the future sources of private investment in new and existing housing.

It will encompass both affordable and private housing.

HCA chief executive Sir Bob Kerslake said: “Making the best use of private finance and, importantly, identifying new sources of investment, is crucial if we are to maintain activity and industry capacity throughout the downturn and beyond.”

Mr Hugill added: “Public and private housebuilding has tended to rely on comparatively narrow sources of funding in the UK.

“As a group, we will examine how the range can be broadened, in particular through the greater deployment of professional capital such as that proposed via the private rental initiative.”

Membership of the group being announced at this stage are:

Recent executive chairman Lend Lease Nigel Hugill

HCA chairman Robert Napier

HCA chief executive Sir Bob Kerslake

Chair of TSA and LPA Anthony Mayer

Friends Provident chair Sir Adrian Montague

London and Quadrant chief executive David Montague

Corporate Finance, PricewaterhouseCoopers Richard Parker

Barclays Commercial Bank Head of Structured Finance Nick Salisbury

It is anticipated that the group will meet twice monthly for a six month period initially before reporting on its findings and recommendations across the three areas.