£100 million boost for small housebuilders

Small builders have been told they can benefit from a £100 million cash boost because of their important role in keeping the country building.

Housing Minister, Brandon Lewis, has announced that The Housing Growth Partnership will act as a dedicated initiative that matches a £50 million investment from Lloyds Banking Group. The money will be used to help smaller builders invest in new projects and develop their businesses, allowing them to recruit and train workers and hopefully become more competitive in their local area. The Partnership will also establish a network of builders, including experienced developers, who will act as mentors and advisers to those looking to expand and grow.

According to the minister, the number of firms building between one and 100 units a year has fallen to fewer than 3,000  and the new initiative expects to make around 50 investments, helping to provide an additional 2,000 homes.