LendInvest backs housebuilder fund

LendInvest has backed the government’s £3bn housebuilders fund but warned that more needs to be done to make land accessible.

The warning follows on from an announcement from communities secretary Sajid Javid of a £3bn fund which will support SMEs, custom builders and developers, whilst also targeting the regeneration of brownfield sites.

Christian Faes, LendInvest’s chief executive, was in attendance at the Conservative Party Conference 2016 in Birmingham where Javid made the announcement.

He said: “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.”

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