Developers Need To Build More Affordable Housing
We are sure that some property developers would welcome the opportunity to build more affordable housing here in the UK with many no doubt requiring financial support to do so by way of appropriate development finance.
According to a report produced by the Joseph Rowntree Foundation there has been a considerable shortfall in the number of affordable homes being built here in the UK in the last six years. Between 2011 and 2017 it is estimated that an average of just over 47,00 new affordable homes have been built each year. It is estimated that that equates to an average shortfall of just over 30,00 affordable homes being built on an annual basis in that period. That equates to a shortfall of over 180,000 homes – a huge figure and one that is most concerning.
It is also estimated that the Government will only be helping build an extra 5,000 affordable homes each year of the 30,000 a year shortfall resulting in the problem of insufficient suitable housing only growing. No doubt representation is being made to the Government in this respect.
Social housing development schemes presumably present a tremendous opportunity for a number of property developers here in the UK who would be keen to assist in the building of such homes. Development finance is available from a number of sources such as high street banks, specialist lenders and the likes of peer to peer lenders so financial support is possible.
Here at Commercial Mortgage Link, we can provide access to a specialist commercial lending broker who has many years experience in the housing development finance sector and who also has an extensive panel of lenders available to choose from. It is worth noting that assistance can be provided throughout the whole lending application process. So, why not get in touch to discuss your requirements in this respect. We look forward to being of assistance.