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Barclays and the government partner on £1bn house building initiative

Barclays and the government have joined forces to provide £1bn of development finance to build homes across England.

 

As part of ‘The Housing Delivery Fund’ developers and house builders who can demonstrate the necessary experience and track will have access to loans of between £5m and £100m to complete their proposed project, with the funds open to new and existing Barclays clients.

 

The aim of the fund is to support small and medium sized businesses to develop homes for rent or sale, including social housing, retirement living and the private rented sector, whilst also supporting innovation in the model of delivery such as brownfield land and urban regeneration projects.   

 

Barclays’ chair John McFarlane says: “There is a vital need to build more good quality homes across the country.  This £1bn fund is about helping to do exactly that by showing firms in the business of housebuilding that the right finance is available for projects that help meet this urgent need.

 

“We are very pleased to be working with government to get the country building more homes, more quickly.”

 

Housing secretary James Brokenshire says: “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 by giving smaller builders access to the finance they need to get housing developments off the ground. 

 

“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.”

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