APPG launches Housebuilder Finance inquiry
PARLIAMENTARY GROUP LAUNCHES HOUSEBUILDER FINANCE INQUIRY
The All Party Parliamentary Group (APPG) for SME Housebuilders has launched a new inquiry into issues faced by SME house builders when accessing finance. The cross-party group of Parliamentarians chaired by Andrew Lewer MBE MP has previously conducted inquiries into skills and apprentices, the role of Homes England and planning reform, and their latest undertaking will investigate the specific financial challenges in housebuilding within the SME sector.
Jointly sponsored by North-West based accountants and property finance experts Cowgills, along with leading SME lender Aldermore, the inquiry will examine how SME house builders 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.
Chairman Andrew Lewer MBE MP commented: “SME house builders 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. Hearing from the industry directly is an important piece in the puzzle, so I invite businesses and individuals to get involved and give us as much information as possible.”
The inquiry will gather evidence and experiences from across the housebuilding industry in the SME space, and will culminate in a report with policy recommendations, to be published in late Spring 2023.
Tim Boag, Managing Director for Business Finance at Aldermore said: “We’re delighted to support this important inquiry - we know from our clients that access to the right finance is key to unlocking the potential of SMEs in the housebuilding industry and we’re looking forward to the APPG’s policy recommendations in the final report.”
Stuart Stead, Partner and Head of Property and Construction at Cowgills said: “As a committed sponsor of the APPG we’re pleased that this report will address issues that we encounter every day in our work with house builders. We know that our clients and the industry as a whole have valuable insight into the financial issues facing SME house builders in the current climate and we’re keen to hear what they have to say to policy makers."
The inquiry is open to submissions from all organisations and individuals working within housebuilding on an SME basis, and will run to Sunday 26th March 2023. To take part click here to complete online.
To request a PDF copy of the inquiry call for evidence, please email smehousebuildersinquiry@gmail.com