Housing Delivery Fund

Housing delivery fund

The UK Government has a target to build 300,000 new homes a year. Barclays and Homes England are collaborating to provide up to £1bn in residential development debt funding to help deliver more homes at a faster pace.

The fund will help suitable development schemes looking for debt funding comprising senior and mezzanine tranches of up to 80% of cost and 70% of value. Loans between £5m and £100m are available to borrowers seeking to increase the number, or accelerate the progress of new homes in England.

Who are Homes England?

"We’re the government’s housing accelerator. We have the appetite, influence, expertise and resources to drive positive market change. We’re making possible the new homes England needs, helping to improve neighbourhoods and grow communities. We welcome partners who share our ambition to challenge traditional norms and build better homes faster. Join us in breaking new ground to make this happen." Homes England

www.gov.uk/government/organisations/homes-england^

Who is eligible to apply?

Both the Borrower and the proposed development scheme must meet the following core criteria to be eligible
for the funding application:

• There must be reasonable evidence that the scheme would not progress or would not progress as quickly without this funding, or the scheme aids innovation.
• The fund aims to target construction of more affordable homes and so increase access to home ownership. The development must consist of homes for rent or for sale and can include social housing, retirement living or private rental homes (subject to a satisfactory repayment source). Residential-led, mixed-use development schemes will also be considered. Serviced apartment and student accommodation developments are not eligible.
• A minimum of 10 homes must be built as part of the development, and they must be in England.
• The Borrower must be able to demonstrate a successful track record of delivering previous development schemes.
• The Borrower must be a private sector entity with a majority control of the development site (although suitable joint ventures may be eligible if both parties are acceptable to Barclays and Homes England).
• The Borrower must be an England and Wales incorporated entity, LP, or LLP.

Before making the application, please download and read the fund fact sheet and check your eligibility.

Read the 'Housing Delivery Fund' fact sheet to find out more PDF^†

What we can offer

For over 15 years Barclays has had a dedicated residential real estate team serving clients including national house builders and experienced developers.

Property Finance: Access funds for development and investment financing.

Foreign exchange: Benefit from the expertise of dedicated professionals and an integrated approach to managing a variety of risks.

Visit our Real Estate page to find out what our team can do for your business