search
date/time
Fri, 4:00PM
overcast clouds
14.8°C
SW 7mph
overcast clouds
14.8°C
SW 7mph
 | Sunrise | 4:19AM |
| Sunset | 7:55PM |  |
P.ublished 10th January 2023
business
Housebuilders In The North Urged To Apply For Government Funding
Mark Harrington, Head of Development Finance - North, at Homes England, said:
“Homes England has offered this kind of loan financing for a number of years and by enabling new entrants to build their track record, we have helped hundreds of small builders to build more homes and grow their business.
“Our mission is to help get more homes built in the places that need them most. We are eager to help small and medium-sized housebuilders access development finance and support them where traditional lenders can’t.”
“Homes England has offered this kind of loan financing for a number of years and by enabling new entrants to build their track record, we have helped hundreds of small builders to build more homes and grow their business.
“Our mission is to help get more homes built in the places that need them most. We are eager to help small and medium-sized housebuilders access development finance and support them where traditional lenders can’t.”
The Federation of Master Builders, the trade body that represents the home building industry in England and Wales, agrees that supporting smaller builders is crucial.
Brian Berry, Chief Executive of the Federation of Master Builders, said:
“We need to build more homes as there is a serious undersupply which is stopping many first-time buyers getting on the house ladder and denying those households most in need who require social housing.
“Small local house builders have the potential to step up and build the homes needed but they need access to the very small sites of land if they are to deliver the Government’s levelling up ambitions. At a time when there are concerns about the quality and design of new homes, local house builders are best placed to build the homes that local communities want and need.”
“We need to build more homes as there is a serious undersupply which is stopping many first-time buyers getting on the house ladder and denying those households most in need who require social housing.
“Small local house builders have the potential to step up and build the homes needed but they need access to the very small sites of land if they are to deliver the Government’s levelling up ambitions. At a time when there are concerns about the quality and design of new homes, local house builders are best placed to build the homes that local communities want and need.”
How to apply for development finance
Applying for development finance is simple – it can be done online, by calling 0300 1234 500 or emailing fundingenquiries@homesengland.gov.uk.
To be eligible, builders need to:
Be a UK-registered corporate entity or limited liability partnership
Plan to build or refurbish five or more homes on a site in England (but less than 2,000)
Have a controlling interest in the land
Applying for development finance is simple – it can be done online, by calling 0300 1234 500 or emailing fundingenquiries@homesengland.gov.uk.
To be eligible, builders need to:
Be a UK-registered corporate entity or limited liability partnership
Plan to build or refurbish five or more homes on a site in England (but less than 2,000)
Have a controlling interest in the land
Case study: Sky-House Co Ltd
In 2017, Sky-House was a newly established, Yorkshire-based developer with a vision to create high-quality, urban ‘back-to-back’ housing for the 21st century, complete with balconies, rooftop garden spaces and shared pocket parks. Specifically, it had plans for a new, 44-home community, Waverley, located on a brownfield site, a former colliery, near Sheffield.
As a new developer the company struggled to secure the finance from the private sector that it needed to bring forward this concept. But Homes England was attracted to the strong place-making ethos of the scheme, its aim to reduce carbon output, and the targeted ownership group of first-time buyers and lower income families and provided £3.2m in development finance.
The completed scheme was an undeniable success. Sales demand exceeded expectations, and it was well received by the design and development community, with several award nominations.
Importantly, Homes England was able to help Sky-House to utilise the equity and profit released from Waverley to fund the land acquisition of Oughtibridge Mill. Alongside this, it provided £3.7m of additional development funding.
The scheme, comprising 40 eco-friendly homes with riverside balconies, private roof gardens and woodland views, is adjacent to a new development by David Wilson homes. The development has already secured two award wins.
David Cross, Managing Director of Sky House, said:
“It is no understatement to say that without Homes England’s support we wouldn’t have been able to start even our first development.
“From Waverley Phase 1 to Oughtibridge Mill, we will complete 84 homes alongside commercial space, and we now have close to 400 homes and commercial space on the drawing board and a secure pipeline of funding and sites for the next 3-5 years.
“By accessing Homes England’s support, we have shifted from developer to housebuilder and now, more importantly, to place maker with close to 40 full and part time staff across the business alongside a growing cabinet of awards. All the team at Homes England have been amazing and we cannot thank them enough- all we can do is keep delivering great homes.”
In 2017, Sky-House was a newly established, Yorkshire-based developer with a vision to create high-quality, urban ‘back-to-back’ housing for the 21st century, complete with balconies, rooftop garden spaces and shared pocket parks. Specifically, it had plans for a new, 44-home community, Waverley, located on a brownfield site, a former colliery, near Sheffield.
As a new developer the company struggled to secure the finance from the private sector that it needed to bring forward this concept. But Homes England was attracted to the strong place-making ethos of the scheme, its aim to reduce carbon output, and the targeted ownership group of first-time buyers and lower income families and provided £3.2m in development finance.
The completed scheme was an undeniable success. Sales demand exceeded expectations, and it was well received by the design and development community, with several award nominations.
Importantly, Homes England was able to help Sky-House to utilise the equity and profit released from Waverley to fund the land acquisition of Oughtibridge Mill. Alongside this, it provided £3.7m of additional development funding.
The scheme, comprising 40 eco-friendly homes with riverside balconies, private roof gardens and woodland views, is adjacent to a new development by David Wilson homes. The development has already secured two award wins.
David Cross, Managing Director of Sky House, said:
“It is no understatement to say that without Homes England’s support we wouldn’t have been able to start even our first development.
“From Waverley Phase 1 to Oughtibridge Mill, we will complete 84 homes alongside commercial space, and we now have close to 400 homes and commercial space on the drawing board and a secure pipeline of funding and sites for the next 3-5 years.
“By accessing Homes England’s support, we have shifted from developer to housebuilder and now, more importantly, to place maker with close to 40 full and part time staff across the business alongside a growing cabinet of awards. All the team at Homes England have been amazing and we cannot thank them enough- all we can do is keep delivering great homes.”