Expressions of interest to bid for a share of the government’s £525m Builders Finance Fund has reopened.
The Builders Finance Fund provides loans to help restart and speed up housing developments of between five and 250 units that have slowed down or stalled. Its main objective is to address difficulties in accessing development finance faced by some housebuilders, particularly smaller developers, and to help bring forward stalled but viable sites.
Kick-starter funding will be provided over two years from 2015 to 2016 through to 2016 to 2017 and will be operated as an open competition. There is a minimum investment of £200,000. Total funds must be drawn down by 31st March 2017.
Bids will be assessed and prioritised against the criteria set out in the prospectus (click to open pdf) and where applicable will be allocated to the shortlist.