Government announces £1 billion Barclays partnership
Tue 25th September 2018, 12:18 pm
Secretary of State James Brokenshire has announced the Ministry of Housing, Communities and Local Government has partnered with Barclays Bank to help small and medium developers deliver affordable homes.
Financial support, ranging between £5 million and £100 million, will be made available to developers which are "able to demonstrate the experience and commitment to building new homes, while boasting a track record of delivering challenging projects".
Overseen by the government’s delivery agency Homes England, the funding will put greater emphasis on opening up the housing market, which currently sees almost two-thirds of new homes built by just 10 companies.
Brokenshire said: "My priority as housing secretary is to get Britain building the homes our country needs. This new fund – partnering Homes England with Barclays – is a further important step [towards these targets] by giving smaller builders access to the finance they need to get housing developments off the ground.”