The agency wants smaller firms to be aware of government funding opportunities

Homes England has launched an awareness campaign to help small and medium-sized housebuilders access funding and expert support.

The ‘We Fund It. You Build It’ campaign will help access financial supports like the Levelling Up Home Building Fund, which was set up to kickstart SME housebuilder projects with development loans from £250,000 to more than £10m.

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Access to finance can be a major obstacle for SME builders

According to a Home Builders Federation study, 2,500 SME housebuilders are currently active, and they are responsible for delivering just 12% of new homes – down from 39% in 1988.

Gary Middleton, assistant director of development finance at Homes England said diversifying the housing sector was “a key part” of the agency’s remit.

“We know how difficult it can be for SME developers to bring their projects to fruition, and that access to finance can be one of the biggest blockers they face,” he said.

The Federation of Master Builders’ latest members survey, published yesterday, found that 42% of SME builders ranked access to finance as a significant obstacle.

>>See also: Making SME house builders great again

“The government’s Levelling Up Home Building Fund aims to tackle that. We have regional experts across the UK that understand the local market and are ready to support SME housebuilders with their project.”

Over the coming months, Homes England will be publicising stories from developers which have successfully accessed funding, including Jatinder Singh Gakhal, managing director of Windyridge Property Investments.

A first-time developer based in the North West and the Midlands, Windyridge faced funding barriers until receiving a £1.4m development loan from the fund in March 2022, helping it deliver its first housing scheme, the nine-home Sienna Way development in West Bromwich.