The Department for Communities and Local Government have announced the launch of the new Home Builders Fund. £3bn will help generate more than 25,000 new homes and provide longer term funding for infrastructure. The fund which supports custom and self-build sectors will provide cheap loans or financial guarantees for small and medium sized builders, offsite constructions and essential infrastructure firms.
The Home Builders fund will be made up of existing funding and at least £1.15billion new loans. The DCLG already have various funding streams in place, including Builders Finance Fund, Large Sites Infrastructure Programme and Build to Rent.
Mark Stevenson, NaCSBA’s Suppliers & Manufacturers Representative, said: “It is really pleasing to see NACSBA working collaboratively with Government to secure the support necessary to grow the custom and self-build sectors. The availability of finance is a key driver of growth and the launch of the new and more flexible House Builders Fund will not only provide much needed project finance but will also make it easier for members to access funds enabling more homes to be built”.
Communities Secretary, Sajid Javid commented: “This conservative government is getting on with the job of building a country that works for everyone. It is only by building more houses that we will alleviate the financial burden on those who are struggling to manage.”
For more information about the fund, follow the link https://www.gov.uk/government/publications/home-building-fund