Levelling Up Home Builders Fund to provide funding for house builders

Small and medium housebuilders will be able to access development loans through the Levelling Up Home Building Fund.

The fund will support smaller house builders that often struggle to access finance through traditional bank lenders.

Loans will start from £250,000.

Those eligible include UK-registered corporate entities or limited liability partnerships, planning to build or refurbish five or more homes on a site in England (but less than 2,000). Other eligibility criteria include those with a controlling interest in the last and if the project would stall or progress slower without funding.

Homes England has offered this kind of loan previously.

David Cross, Managing Director of Sky House, who previously received funding, said: "It is no understatement to say that without Homes England’s support we wouldn’t have been able to start even our first development.

"From Waverley Phase 1 to Oughtibridge Mill, we will complete 84 homes alongside commercial space and we now have close to 400 homes and commercial space on the drawing board and a secure pipeline of funding and sites for the next 3-5 years.

"By accessing Homes England’s support we have shifted from developer to housebuilder and now, more importantly, to place maker with close to 40 full and part time staff across the business alongside a growing cabinet of awards. All the team at Homes England have been amazing and we cannot thank them enough- all we can do is keep delivering great homes."

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