Top Service News
Government Support For Developers
Published on
Small and medium housebuilders struggling to access traditional development finance can take advantage of government funding to get homes built across England.
Through the government’s Levelling Up Home Building Fund, Homes England provides development loans to small and medium housebuilders. The Fund supports smaller house builders that struggle to access finance through traditional bank lenders, with loans starting from £250,000.
Eligible developers:
* Must be a UK-registered corporate entity or limited liability partnership.
* Must plan to build or refurbish five or more homes on a site in England.
* Must have a controlling interest in the land.
* Must be able to demonstrate that the project would stall, or progress much less quickly, without this finance.
Emma Reilly, MD at Top Service Ltd says:
“It’s encouraging to see the government continue to support the construction sector through its Homes England initiative. Reading the case studies it appears that many of the small developments that have benefited from the scheme wouldn’t have been possible without the government’s help”.
More information about the scheme can be found here:
https://www.gov.uk/guidance/levelling-up-home-building-fund-development-finance