Barclays and Homes England launch £1 billion housing fund

Barclays has teamed up with Homes England to provide £1 billion of development finance to help build new homes across England.

The new Housing Delivery Fund will provide loans ranging from £5 million to £100 million, which will be competitively priced, for developers and housebuilders who are able to demonstrate the necessary experience and track record to undertake and complete their proposed project. Funding is open to new clients as well as existing Barclays clients, and will put greater emphasis on diversifying the housing market, as at present, almost two-thirds of homes are built by just ten companies.

A key priority of the fund is to support small and medium sized businesses to develop homes for rent or sale including social housing, retirement living and the private rented sector, whilst also supporting innovation in the model of delivery such as brownfield land and urban regeneration projects.

Launching the fund, John McFarlane, Barclays’ chairman, said:

“There is a vital need to build more good quality homes across the country. This £1 billion fund is about helping to do exactly that by showing firms in the business of housebuilding that the right finance is available for projects that help …