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Together has announced a £150 million development finance facility aimed at addressing the UK's housing shortage.
The facility will fund thousands of homes, including housing schemes, student accommodation, care homes, social housing, and mixed-use projects.
With a loan book of £6.8 billion, Together aims to alleviate the national housing stock deficit, which researchers from the Centre for Cities estimate at 4.3million homes. In its latest report, Opportunities and Outlook; the future of commercial property, the Lender identified the vast majority – 73% - of SME property developers are optimistic about the outlook of their business over the next 12 months.
Ian Pickering, director of development funding, highlighted the facility's role in supporting housebuilding schemes nationwide. The initiative, named ADALO, is backed by loans secured against developments in England, Wales, and Scotland. This move is part of Together's broader strategy to support SME property developers, amidst industry optimism and the need for additional housing.
Aaron Strutt, director of Trinity Specialist Finance, says: "There are lots of lenders keen to offer development finance to fund new builds. While they prefer lending to professionals with experience there are providers offering bespoke solutions to those with less experience."
Call Trinity Specialist Finance to secure funding for a development and get a full assessment of the specialist market on 020 7016 6151 or book a consultation
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