LendInvest backs housebuilder fund
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 Party Conference 2016 in Birmingham.
He responded: “This fund is a terrific step towards addressing that funding gap and ensuring we improve the number of homes built in the UK.
“However, helping them to pick up the housebuilding slack will take more than money alone – the government must act immediately to make land more accessible to them, as well as supporting measures which will ensure they develop the skillset they need to make a success of their projects.
“Relying on large housebuilders to deliver the homes we need is doomed to failure. It is absolutely right that this fund should be targeted at small builders.
“For too long, accessing funding for their projects has been simply too difficult, with the big banks not interested or too constrained to help.”