<p>Homes England and specialist lender United Trust Bank (UTB) have launched a £250 million fund to provide development finance for small and medium sized housebuilders at up to 70% loan to gross development value.</p> <p>The Housing Accelerator Fund will offer construction loans of between £1 million and <span>£</span>10 million. The government agency Homes England said its five-year partnership with UTB would improve access to finance for SMEs and “drive the continued diversification of the housing market over the coming years”. </p> <p>Gordon More, Homes England’s chief investment officer, said: “The Housing Accelerator Fund is open for business from today. In line with Homes England’s commitment to support SMEs, it will help smaller builders get on and build now, as well as improve the lending landscape for SMEs by driving competition in the market, improving choice and encouraging innovation.</p> <p>“United Trust Bank have consistently supported housebuilders of all sizes and are an experienced and capable lender, we’re pleased to be collaborating with them on this long-term partnership and look forward to seeing the fund support the delivery of new homes across the country.”</p> <p>Noel Meredith, UTB’s executive director, said SMEs had a key role to play in delivering much needed UK …