On 16 February, a new five-year lending alliance between United Trust Bank (UTB) – an established specialist lender – and the government’s housing delivery agency Homes England, was announced. The new £250m fund will support small and medium-sized builders with development finance up to 70% Loan to Gross Development Value (between £1m and £10m). This funding should help to drive diverse housing in the years to come.
Noel Meredith, Executive Director, United Trust Bank said: “SME housebuilders have a vital role to play in delivering the UK’s new housing needs and UTB has amassed considerable experience helping such businesses to complete thousands of successful developments. This is an exciting new partnership with Homes England which will make a real difference to both long established and newly formed development companies requiring competitive funding and the long-term support of a knowledgeable and experienced specialist lender. This alliance will help to reinvigorate and increase diversity in the SME housebuilding sector, and boost housing supply in areas under the greatest affordability pressures.”
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