Barclays and Homes England have teamed up to create a £1bn lending pot for established developers looking to build new homes. With almost two-thirds of all new homes built by the ten biggest developers, the intention is to encourage diversity by offering finance to small and medium-sized house builders.
The loans will be competitively priced and are available to non-Barclays customers with a view of helping house builders develop more sites and increase the housing supply in all sub-sectors – for sale, for rent and retirement.
John MacFarlane, Barclays Chairman said, “We are very pleased to be working with the government to get the country building more homes, more quickly.”
Housing Secretary, James Brokenshire added, “This is a fantastic opportunity to not only get more homes built but also promote new and innovative approaches to construction and design that exist across the housing market.”