Homes England has launched a new campaign to help SME housebuilders access funding and support.
The “We Fund It. You Build It” campaign, which forms part of the Levelling Up Home Building Fund, aims to support small and medium housebuilders to encourage a more diverse sector and allow the companies to grow.
The fund is available for English-based SME housebuilders who are struggling to access finance from traditional lenders and will provide development loans from £250,000 to over £10million to help kickstart projects.
Loans can be tailored to individual circumstances to meet the development costs of building homes for sale or rent, while financing is also available to support community-led housing projects, serviced plots for custom and self-builders, off-site manufacturing, new entrants to the market and groups of small firms working in consortia to deliver larger sites.
Gary Middleton, assistant director of development finance for Homes England, said: “Diversifying the housing sector, helping new housebuilders to establish themselves, and supporting mid-sized developers to grow is a key part of our remit.”
“But we know how difficult it can be for SME developers to bring their projects to fruition, and that access to finance can be one of the biggest blockers they face. The government’s Levelling Up Home Building Fund aims to tackle that.”
