Barclays bank has reached an agreement with the UK government to provide £1bn of development finance to fund the construction of thousands of new homes across England.
The bank said it would offer “competitively priced” loans ranging from £5m to £100m for smaller developers and house builders who could demonstrate experience and a track record in the sector.
Of the £1bn fund, Barclays is providing £875m and housing agency Homes England will contribute £125m.
Barclays said a key priority for the Housing Delivery Fund would be to support small- and medium-sized businesses to develop homes for rent or sale, including social housing, retirement living and the private rented sector, while also supporting innovation in the model of delivery, including brownfield and urban regeneration projects.
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