Fortwell Capital has provided over £50m of funding in a single week, including £30m for a new development scheme in the London Borough of Hackney. Comprising five separate transactions spanning the residential and commercial sectors, the Knightsbridge-based lender said the figure represents one of the best aggregate lending weeks in its history. Three of the […]
The development finance team at LendInvest has travelled over 2,500 miles in the ten months since it was officially launched visiting the developers it backs on their construction sites. The team has been to sites in places including Birmingham, Bristol, Cheshire and Sussex, covering enough miles to get to Timbuktu. LendInvest’s commitment to supporting developers […]
Nearly two in five (38%) mortgage brokers think it will become harder for builders and developers to secure development finance in the next year. Noel Meredith, executive director of United Trust Bank, reckoned brokers are jittery about the UK property market following the Brexit vote. He said: “There have been indications that some lenders, or […]
Construction output decreased by 1.5% in August, the Office for National Statistics has found. The slump in output follows a revised increase of 0.5% in July, contributing to a three-month decrease in construction industry output. New work makes up the majority of the data, with output relating to repair and maintenance facing a fall of […]
Bridging Finance Solutions has restructured and relaunched, ‘the Hunters Licence’, a finance package designed specifically for developers and investors. BFS’s Jeanette Jones (pictured) has championed the product, citing a need from the growing development sector as the key objectives behind the launch. She said: “The development sector is undoubtedly growing, alongside a renewed interest in the […]
LendInvest has backed the government’s £3bn housebuilders fund – but says more needs to be done to make land accessible. This morning communities secretary Sajid Javid said the £3bn fund will support SMEs, custom builders and developers, while he also targeted regenerating brownfield sites. Christian Faes, LendInvest’s chief executive, was in attendance at the Conservative […]
The government wants to kick-start housebuilding with a £3bn housebuilders fund to support SMEs, custom builders and developers, communities secretary Sajid Javid announced today. Javid (pictured), speaking at the Conservative Party Conference 2016, set the target of building one million new homes by 2020 with a focus on SMEs, modular housebuilding and regenerating brownfield sites. […]
LendInvest has launched a non-profit academy designed to teach aspiring small-scale developers the skills they need to build more homes. With the UK needing 300,000 new homes every year to meet demand, whilst only 170,000 were completed in 2015, LendInvest said there is a need for entrepreneurial, independent and small-scale developers who can help fill a gap. […]
LendInvest has urged the government to prioritise SMEs over major housebuilders to increase levels of housebuilding in the UK. In a submission to the Communities & Local Government Committee’s Inquiry, LendInvest told the government to scrutinise land banking and said larger developers who do not develop land in their stock should sell it on to […]
Despite an increase in development in London the new homes are concentrated in a handful of areas and some are so pricey that interest from buyers is waning, according to London Central Portfolio. The result is a deepening new build crisis in inner London in particular and the lack of interest in new builds is seeing […]