The Government’s affordable housing guarantee is now committed to just over £1bn of new housing schemes. A further £2.5bn of supported loans is still waiting to be drawn down UK-wide.

The system of guarantees allows housing associations to borrow money for new affordable housing at very competitive rates, underpinned by the government as a debt guarantor.

Family Mosaic, First Wessex and Devon & Cornwall Housing will deliver over 2,000 new homes using the funding help.

Housing Minister Brandon Lewis said: “The government’s strong economic record is unlocking more than £1bn for sensible borrowing at rates well below the market average.

“This funding is helping to build 9,000 homes across the UK, on top of the 200,000 affordable homes already built since 2010.”

The Affordable Housing Guarantee Scheme is one of several measures the government has taken that have got Britain building.