26 August 2016 by

It’s all up for grabs

Apparently a new multi billion pound fund is to be launched by the Government aimed at tackling the housing crisis.

The fund which will be administered by a Quango (the HCA), will offer loans to developers across the residential sector and will be aimed at SME’s as well as large developers.

Sources close to the situation have been quoted as saying that the fund would include new money not yet pledged by the Government and could also be used to give financial guarantees to developers worried about the risks of delivering big schemes.

Lots of discussions have been taking place between the Government, the Housebuilders Federation and representatives of SME’s to ascertain how this will all work.

The concern is that the Government will impose the same requirements as mainstream banks (including requiring the developer to stump up substantial equity) thus defeating the object of the fund in the first place.

The full details are to be announced in the Autumn so watch this space!

For further information about this article or commercial property issues generally, you can contact Richard Pearce on 020 7288 4781 or by email at RichardPearce@boltburdon.co.uk.

You can also contact one of our other solicitors in the Commercial Property team here.

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