Brian Berry

£100m funding boost for house builders

The Government has pledged to match the £50 million promised by Lloyds Banking Group in October to help increase the supply of needed new homes across the country, the Housing Minister Brandon Lewis (left) announced this week. The Housing Growth Partnership will act as a dedicated initiative alongside small builders to invest in new developments, with the ultimate aim of increasing housing supply. The latest house building data reveal that housing starts are now at a seven-year high and climbing, while the volume of homes granted planning consent has reached 261,000 – the highest since 2007. But to help “maintain this momentum and keep the country building”, Lewis said that the Government recognised that greater investment in the sector is needed. He commented, “The 2008 economic crash devastated our army of small builders, with delivery falling from 44,000 homes to just 18,000 – seven years on, companies are getting back on their feet but we’re determined to give them all the help they need.” Lloyds Banking Group said that it welcomed the Government’s announcement of support for the housing growth partnership, which will double the capability to support SME house builders. Andrew Bester, Group Director and Chief Executive, commercial banking…

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