Updated: Jun 2, 2019
British Business Bank has launched its ENABLE Build programme, which makes up to £1bn of guarantees available to support the finance of smaller housebuilders.
ENABLE Build — a new variant of the bank’s existing ENABLE Guarantee programme — has been provided by the Ministry of Housing, Communities and Local Government (MHCLG).
The bank will be working alongside Homes England to consider applications and help deliver ENABLE Build successfully.
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Reinald de Monchy, managing director of guarantee and wholesale at British Business Bank, said: “The ENABLE Build programme will allow us to build on the ENABLE Guarantee’s success in supporting smaller housebuilders that have traditionally struggled to access the finance they need.
“Working alongside BEIS [Department for Business, Energy and Industrial Strategy], MHCLG and Homes England to tackle both access to finance and the UK housing shortage, this programme is an excellent demonstration of how government can work across departments to tackle a multifaceted issue.”
Sir Edward Lister, chairman at Homes England, added: “The ENABLE Build Programme, which opens for applications today will help to address the financial barriers that prevent smaller builders from delivering more homes that the country needs.”