The Chancellor, in his spring budget speech, announced that the
Government will continue to support Home England’s investment in the Housing
Growth Partnership (HGP) by committing to a further £60m, which will be matched
by Lloyds Banking Group.
Nearly two years to the day after the initial investment was made
by both parties.
Established in 2015, HGP has already committed to deliver c.2000
homes across 35 sites in the UK by partnering with small and mid-sized builders
who cannot easily access development finance.
The combined investment builds on the previous £100m from Lloyds
and Homes England and will help our partners to deliver around £1bn of new
homes by summer 2019. It also provides ongoing security to a number of firms
for their funding and the opportunity to support more builders across the UK.
Beyond access to funding, the HGP’s partners have benefitted from
1,500 hours of mentoring to help support sustainable growth in housing
delivery.
Andy Hulme, CEO and Head of Fund for Housing Grown Partnership
said: “Today’s announcement of further funding marks another significant
milestone in the evolution of the Housing Growth Partnership. This supports our
core purpose of accelerating the delivery of homes across the UK through our
partnerships with small and mid-sized housebuilders.”
Nick Walkley, Chief Executive of Homes England said: “The Housing
Growth Partnership shows what is achieved when we partner with the private
sector and double the amount of capital available to lend to SMEs,
offering excellent value for money for the tax payer.
“Homes England is harnessing Lloyds commercial skills and contacts
and our investment capital to provide a new source of funding for SME
developers who will then build more than 3,400 new additional homes in
England.”
