Businesses that are building homes for sale or rent, or preparing land for homes, can continue to access loans to cover development or infrastructure costs as the scheme is extended by two years.
The Home Building Fund is a flexible source of funding administered by Homes England on behalf of the Government. It provides two types of finance, which can be tailored to circumstances.
Development loans
These are for meeting the development costs of building homes for sale or rent. They can be taken out over five years and drawn down to 31 March 2025 (extended by two years from an original draw down date of Mach 2023).
Infrastructure loans
These are to prepare sites for the infrastructure needed for housing to progress and land to be prepared. They can be taken out over 20 years. Infrastructure projects must ultimately lead to the development of new housing.
According to the Government, loan funding of at least £624 million will now be available for house builders to improve the infrastructure needed to kick-start new housing projects, with a particular focus on transforming unsightly and derelict brownfield sites.
Loans of £250,000 to £250 million are available with smaller loans considered for innovative housing solutions and serviced plots for custom builders. Loans can be tailored to individual circumstances and eligible costs will be discussed with each applicant and depend on the type of funding requested.
Applications are being accepted from private sector businesses that build new homes or prepare sites for housing development. Small builders, community builders, custom builders and innovative housing developers businesses in England are eligible.
Support can be accessed at any time.
How To Apply
Support can be accessed at any time.
The first step in order to apply is for interested parties to contact Homes England online or by email, phone or post. Homes England will take some details, and if the project appears to meet the eligibility criteria they will put the applicant in touch with a member of the investments team who will help them make an application.
Applicants will be required to provide certain key pieces of information about their development plans, and business finances as part of the decision making process.
Useful documents & links
Addresses and contacts
For further information on how to obtain this grant locally, please contact the following:
- Enquiries
Homes England
Information Access Officer
Fry Building
2 Marsham Street
London
SW1P 4DF
Tel: 0300 1234 500
Email: [email protected]