Home England And Barclays To Provide £1 Billion Of Development Finance
It has been announced this month that Barclays Bank and Homes England have entered into a partnership to provide £1 billion of development finance to small and medium sized property developers to help fund development projects to provide much needed new housing.
Property developers will be able to borrow between £5 million and £100 million to help fund development projects in England. It is no secret that there is a significant shortage of suitable housing here in the UK so the above partnership is going to be welcome news to developers and people looking for suitable housing.
Funds will be made available to suitable applicants to fund various types of housing schemes including the likes of apartments that people can rent, retirement living projects and social housing.
The Government has a target of building 300,000 new homes by the mid 2020’s so this funding package will no doubt help achieve this target.
This is another lending opportunity for property developers in this country and it will be interesting to find out more about the packages available. It is to be hoped that they are competitive.
Of course, there are many other lending schemes available for property developers here in the UK. For instance, all the major high street clearing banks offer finance for property developers. In addition, there are many specialist lenders providing such finance. Peer-to-peer lending platforms have become increasingly popular in recent years.
Do remember that it is not just about the interest rate charged by lenders that should be the deciding factor on choosing a lender. Other things like the fees charged by lenders should also be taken into account.
If you are a property developer looking for development finance then why not get in touch with us and we will introduce you to a specialist loans broker that has an extensive panel of lenders to help source a suitable financial package tailor-made for your business.