HTB obtains the ENABLE Build guarantee from the British Business Bank

0

Hampshire Trust Bank (HTB) has agreed an ENABLE Build Guarantee with the British Business Bank and the Department for Leveling Up, Housing and Communities (DHLUC).

The transaction will allow the bank to continue supporting small business builders across the UK.

This follows HTB’s previous ENABLE Guarantee agreed in 2017, which has so far provided £342m to SME homebuilders and supported the construction of 1,547 new housing units.

British Business Bank’s ENABLE Build was launched as a separate variant of the ENABLE Guarantee to provide £1 billion of guaranteed support to small homebuilders.

Under both ENABLE schemes, the UK government takes on some of the lender’s risk on a portfolio of small business loans, in return for a fee.

In the 12 months to March 2022, the ENABLE Build program has supported over £330m in loans to over 130 small homebuilders.

Alex Upton, Managing Director of Development Finance at HTB (pictured above), said: ‘We all know UK homebuilding is dominated by a handful of huge players, but SME builders are vital not only to our market, but also to our communities and our country as a whole.

“They are often the beating heart of regional and local property markets and they provide a harbor for training and development of design, craftsmanship and skills in combating homogeneity – however, SME homebuilders had to face headwinds.

“The ENABLE Build Guarantee shows the British Business Bank’s strong commitment to supporting SME homebuilders.

“We are confident that HTB will be able to support an increased number of SME homebuilders to improve housing supply, create jobs and boost local economies across the country.

Reinald de Monchy, managing director of warranty and wholesale solutions at the British Business Bank, ADDED: “Increasing the current supply of UK housing construction is a priority for local government policy makers. and national.

“This ENABLE Build transaction will allow HTB to increase financing for SME homebuilders, helping them deliver more housing and enabling more people to access the homeownership ladder.”

Share.

Comments are closed.