LendInvest and British Business Bank partner to help build more homes

By Amelia Isaacs on Tuesday 24 January 2023

Alternative LendingDigital Banking

HSBC will provide up to £100m and the British Business Bank will support the transaction to tackle the undersupply of homes.

LendInvest and British Business Bank partner to help build more homes
Image source: Rod Lockhart & Reinald de Monchy/LendInvest & the British Business Bank.

LendInvest is pairing up with the British Business Bank to help smaller property developers build more homes across the UK.

With up to £100m in funding coming from HSBC as a senior funder, the British Business Bank will support the transaction through its government-backed ENABLE Guarantee programme.

According to LendInvest, the facility increased its assets under management to more than £3.6bn, giving investors opportunities to gain exposure to the UK property finance market. 

“The UK is a nation of homeowners without enough homes to own,” LendInvest CEO Rod Lockhart said.

“Smaller property developers have a key role to play in making up this shortfall. The guarantee from the British Business Bank and the funding from HSBC, combined with our expertise in lending, is key to supporting these developers.”

Lockhart said the asset manager is partnering with the British Business Bank and HSBC to “unlock finance” to help tackle the undersupply of housing in the UK.

The development finance scheme specifically helps to support smaller property developers in an attempt to plug the gap in the delivery of homes.

The Enable Guarantee programme is aiming to encourage lenders to increase their advances to smaller businesses, with the government taking on a portion of the risk on a portfolio of loans for a fee.

“Unlocking finance through this facility is a great example of the difference the ENABLE Guarantee programme can make in the market,” British Business Bank managing director Reinald de Monchy said.

“Thanks to this new partnership, LendInvest will be able to help more smaller property developers build more homes across the UK.”

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