New Government Accelerator fund set up to support housebuilders
Feb 16, 2021
To support diversity in the house building sector, a Government loan scheme has been launched that will see SME’s benefitting from a new initiative – the “Accelerator fund”. Designed to help small to medium construction professionals across the sector, the new scheme will see loans of £1m to £10m offered to housebuilders via specialist lender United Trust Bank (UTB) with development finance at up to 70% Loan to Gross Development Value.
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.”
After a challenging year and with a growing requirement for new homes it provides a great opportunity for SME’s to access support and make fast progress with vital projects.
Housing Minister, Christopher Pincher MP, added:
“It is a top priority for this Government to build the homes this country needs and it is vital for our economic recovery that we support as many as possible within the house-building industry to deliver these homes. I welcome the announcement of the alliance between Homes England and United Trust Bank – this is win-win. It will not only support our commitment to build more homes, but also give smaller developers easier access to finance.”
For more information on how to apply, send an email to: email@example.com
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