FMB and UK Finance unite to support small housebuilders
The Federation of Master Builders (FMB) and UK Finance have joined forces to publish an updated ‘Guide to Development Finance’ to encourage more small and medium-sized (SME) housebuilders to build more homes.
In the 1980s, SME housebuilders used to deliver 40% of UK homes but now this figure stands at around 12%. For new, returning and growing developers, finance to build high-quality homes could help reverse this trend.
Securing finance can often be a complex aspect of building for any small developer. The guide will help SME housebuilders to understand the overview of products available to them and the process of how to apply, making it easier to access the finance they need and helping them deliver the UK’s much-needed homes.
UK Finance and the FMB are both committed to supporting housebuilders on their finance journey, believing that turning around the fortunes of small, local housebuilders will help the UK deliver good quality homes and boost local economies, while supporting the levelling up agenda.
Brian Berry chief executive of the FMB said: “This guide, which was developed in collaboration with the Department for Levelling Up, Housing and Communities, is an important part of a small housebuilder’s arsenal. We know that development finance has often held small builders back, with 29% of FMB members citing it as a barrier to building new homes. This guide provides a comprehensive overview of what products are available and where to get them. If we are to deliver more homes for the nation, then small, local housebuilders must have barriers removed to help them deliver, and I hope this guide goes someway to aid them in this process.”
