Launch of £25m Revolving Fund for SME Housebuilders

Invest & Fund and Homes England have announced a seven-year partnership to create a £25 million revolving fund to allow Invest & Fund to support small builders grow and deliver more homes at pace.

The aim of the scheme is to give small developers easier access to finance to help deliver more homes and contribute to the UK Government’s target to build 300,000 new homes a year.

Loans of between £400,000 and £2.5 million are available under the following terms:

Maximum Unit Gross Development Value (GDV) £800,000.

Up to 24 months.

Interest rate 6.65% + Bank of England Base Rate.

Arrangement fees of 2% and no exit fees.

For leasehold houses or flats, rent to be peppercorn.

Small builders in England and Wales can apply.

Applications can be made at any time.

More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news and policy. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.