{"id":534538,"date":"2025-12-11T12:45:25","date_gmt":"2025-12-11T12:45:25","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=534538"},"modified":"2025-12-11T12:18:23","modified_gmt":"2025-12-11T12:18:23","slug":"homes-quango-doubles-down-on-mmc-funding","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/buildings\/homes-quango-doubles-down-on-mmc-funding-11-12-2025\/","title":{"rendered":"Homes quango doubles down on MMC funding"},"content":{"rendered":"

Homes England has committed to providing more cash to get the construction industry to adopt modern methods of construction (MMC), despite its recent financial losses in the sector.<\/p>\n

On Thursday (11 December), the quango published its new strategic plan and investment strategy covering the next five years, outlining details of how it will channel subsidies for housing and infrastructure through the new National Housing Bank (NHB) announced by the government earlier this year.<\/p>\n

It said that the NHB, which will allocate most Homes England funding, would begin operations from April 2026, subject to Treasury approval.<\/p>\n

In a section on innovation, the strategy said that some of the cash will be directed towards MMC to help tackle low productivity and skills shortages in the construction sector.<\/p>\n

It said: \u201c\u2026the built environment sector still faces entrenched barriers: low productivity; skills shortages; a lack of diversity among developers; inefficient methods of construction; and under-investment in innovative and sustainable building practices.<\/p>\n

\u201cWe recognise that we have a role to play in working with partners to address these barriers. As such, we will use our investment, programmes and partnerships to accelerate innovation; diversify the market; promote sustainability; and drive the adoption of both modern methods of construction and emerging technologies across the housing and regeneration sector.\u201d<\/p>\n

In recent years, Homes England has incurred significant financial losses on some of its investments in MMC schemes, particularly from the collapse of several high-profile modular building companies.<\/p>\n

However, the agency has defended these losses as an expected part of its role to innovate and take risks that the private market will not.<\/p>\n

The most substantial recent loss came from the collapse of modular housebuilder Ilke Homes<\/a>.<\/p>\n

Homes England is set to lose most of the \u00a368.7m it invested in the firm, with initial estimates suggesting a recovery of only \u00a31m, later revised to a potential \u00a34.3m, and most recently to just over \u00a3126,000.<\/p>\n

In an April 2024 interview with Construction News<\/em>, Homes England\u2019s then-chief executive Peter Denton defended the investment, saying: \u201cWe lost \u00a360m. I don\u2019t enjoy that, but we took a risk in the full knowledge that there was a risk of loss.\u201d<\/p>\n

The housing agency also lost \u00a33m of \u00a327m invested into\u00a0House by Urban Splash<\/a>, which collapsed in 2022, and is also owed \u00a39.2m by a subsidiary of Stewart Milne Group<\/a>.<\/p>\n

In 2024, a House of Lords committee report criticised the government\u2019s investment in MMC<\/a> as \u201cundirected and nonstrategic\u201d.<\/p>\n

The committee\u2019s chair, Lord Moylan, said he was \u201cunpersuaded that Homes England knew what it was doing\u201d when investing in Ilke Homes and Urban Splash, saying that the criticism was not for losing money, but for a perceived lack of due diligence and strategy.<\/p>\n

Elsewhere, the Homes England strategy document said that the NHB\u2019s remit will allow it to \u201cpartner with long-term investors and parts of the housing and regeneration sector that have traditionally been underserved or have experienced challenges, including SMEs and partners delivering complex large-scale mixed-use regeneration schemes.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Homes England has committed to providing more cash to get the construction industry to adopt modern methods of construction (MMC), despite its recent financial losses in the sector. On Thursday (11 December), the quango published its new strategic plan and investment strategy covering the next five years, outlining details of how it will channel subsidies …<\/p>\n","protected":false},"author":129711,"featured_media":440670,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[547,565,579],"tags":[],"class_list":["post-534538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buildings","category-government","category-tech"],"yoast_head":"\nHomes quango doubles down on MMC funding | Construction News<\/title>\n<meta name=\"description\" content=\"Homes England has committed to providing more cash to get the construction industry to adopt modern methods of construction (MMC), despite its recent\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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