Latest development loans fund will aid new homes target
Following a pledge by the Chancellor, Philip Hammond, to help small and medium-sized developers, the British Business Bank has announced plans to make up to £1bn of guarantees available to banks that lend to housebuilders who fall into this category. This new raft of development loans will, it is claimed, assist SME developers to meet the Government target of 300,000 new houses every year.
Figures show that the proportion of new houses completed by small building firms has halved since the late 1980s and many in this sector have complained that access to competitive development loans is one of the biggest hurdles.
There is no doubt that the above statistics are a true reflection of today’s overall housing market, but at Synergy Commercial Finance we have already witnessed a steady growth in demand for property development finance by small building firms and in the main we have been more than capable of satisfying this requirement.
Of course the release of this extra funding will significantly benefit the greater market and there is no doubt that as one of the UK’s leading commercial finance providers, at Synergy we will be able to tap into this new facility in order to extend our own commercial lending opportunities to small and medium housing developers.
Even so, and even without this additional finance, the Synergy funding panel, now recognised as the biggest and most comprehensive in the UK with over 200 lending sources available, has proved to be a potent resource for development loans funding.
Within this unrivalled funding panel we already have a powerful portfolio of development funders who specialise in assisting the British housebuilding sector to realise their plans.
Now, thanks to the latest funding release, we can only see that our position as a leading SME development funding provider will significantly increase.
If you are a housebuilding company who is looking for the right development loans deal to fund your next building project then please do not hesitate to contact us. Let’s discuss how we can structure the very best and most competitive property development finance support package to help you profit from this excellent opportunity. You can call us on 01904 481 786. You can also email: firstname.lastname@example.org or you can send a message using the online form on our Contact page.