The British Business Bank’s ENABLE Build Programme will shortly begin guaranteeing millions in new loans for local, independent construction businesses to deliver new homes.
Following the credit crunch in 2008 figures show that only 1,737 small to medium size builders operate in England, with more needed to help respond to the demand for new homes. The £1 billion guarantee scheme set-up by the government ensures enough credit is available to allow smaller housebuilders to enter the market. Small housebuilders often struggle to access affordable finance.
Since the scheme opened for applications in May 2019, the government has received interest from specialist and mainstream lenders – including high street banks – which want to be involved in this innovative scheme to deliver homes.
Image attribution: "Robert Jenrick Official MP Portrait" used under CC BY 3.0 / Cropped from original
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