APPG publishes Access to Finance report
APPG publishes Access to Finance Report
The All Party Parliamentary Group (APPG) for SME Housebuilders has published a new report into issues faced by SME housebuilders when accessing finance. The cross-party group of Parliamentarians chaired by Andrew Lewer MBE MP has previously published reports into skills and apprentices, the role of Homes England and planning reform.
Jointly sponsored by North-West based accountants and property finance experts Cowgills, along with leading specialist lender Aldermore, the report examines how SME housebuilders are affected by issues such as planning delays, stretch funding and modern methods of construction, as well as the effects of the current economic climate.
The report includes 13 recommendations for central Government, local authorities and the private sector, designed to support the SME housebuilding sector.
Chairman Andrew Lewer MBE MP commented:
“I would like to thank every organisation and individual who took the time to respond to our inquiry. Their submissions were invaluable in helping the APPG develop this report.
“SME housebuilders are vital to the UK’s ability to deliver a housing stock that meets our needs, and policy makers and financiers are fully aware of the need to ensure their ability to operate in this challenging economic climate.
“It is my great hope that the recommendations contained within this report will be adopted by the private and public sectors, and that this report will play a role in supporting the continuing success of the SME housebuilding sector.”
Tim Boag, Managing Director for Business Finance at Aldermore said:
“The APPG for SME Housebuilders is an influential voice in Parliament, representing the interests of this important industry. This latest report which highlights the challenges and opportunities regarding funding for SME housebuilders is particularly relevant given the macro-economic outlook, with higher inflation and interest rates.
“At Aldermore we recognise the value SME housebuilders bring to the communities in which they operate, generating jobs and economic activity. As such, we are delighted to be supporting the work of this APPG.”
Stuart Stead, Partner and Head of Property and Construction at Cowgills said:
“We are pleased to sponsor this report and welcome its publication and its findings, we’d like to extend our thanks to all of the companies who responded to the survey to enable it to be written.
“At Cowgills we have a dedicated specialist team who work solely in the property and construction sector so we are all too aware of the issues and challenges that SME housebuilders are facing – we are witnessing it on a daily basis.
“We are optimistic that the findings and recommendations within this report will be a step in the right direction towards positive changes to support our vital SME housebuilders in developing affordable housing.”
The full report can be downloaded by clicking here.