Housing Secretary, Robert Jerick MP, has announced £1 billion in new loans to small and medium-sized builders to help them deliver new homes, under the banner of the British Business Bank’s ENABLE Build Programme.
The Government has a target of having one million new homes built in the next five years and is looking to enlist the UK’s more than 1,700 small and medium-sized builders to help it achieve that goal.
In a statement to Parliament, the Housing Secretary said: “Small housebuilders are vital to building the homes this country needs but too often struggle to access affordable finance.
“Today I am giving the green light to a scheme that will help fix this. Supporting £1 billion of new loans so that local builders can kickstart building, level up the country and turbocharge the housing sector.”