New service offer to address current lending challenges which are further adding to the housing crisis
In direct response to the housing crisis in the UK and the increased challenges in developers securing funding to build homes – which has been further hindered by the pandemic - property facilitator and network specialists, Land & New Homes Network, has announced the launch of LNH Funding, adding to its suite of services for its developer and estate agent members.
With access to funding continuing to be difficult for developers, the need to meet clear targets for housing throughout the UK and many lenders being increasingly cautious due to the pandemic, Land & New Homes Network has created LNH Funding to unlock potential development sites, and drive forward house building.
LNH Funding sees the introduction of a panel of specialist development finance brokers and insurance brokers, that are ready to help fund and insure schemes across the country. This new department is working to address the common issue that small and medium-sized house builders encounter; the struggle to access sufficient funding and insurance to complete developments for much-needed homes throughout the UK.
The only property network of its kind in the country, Land & New Homes Network offers it members access to a large network of property sector contacts, as well as land and new home opportunities, best practice guidance, marketing, training, resources, workshops and now funding and insurance.
Founder Kevin Ellis, said: “The addition of LNH Funding for our members is an important step in aiding developers to secure the funding streams they need to complete their housing schemes.
“Failure to secure funding is one of the biggest issues causing major delays in the building of new homes and this new, trusted financial resource, is a strategic solution to fill that gap.
“The need for this has never been stronger. The pandemic has caused many residential developments fail to secure funding, coupled with the demand for housing rapidly increasing and the surge of people wishing to move to take advantage of the current stamp duty holiday, there simply isn’t enough stock.
“Through LNH Funding and our vast network of partners, we are able to connect industry professionals from all over the country to bring new homes and land deals to life.”
Tim Downing, director at residential and commercial estate agency Pygott & Crone, and member of the Land & New Homes Network, said: “The network is as ever proving to be an innovative and vital resource for professionals in the industry. The introduction of LNH Funding is an important part of the puzzle which will aid the thousands of developers who are unable to get their schemes off the ground due to funding, as well as providing estate agents like ourselves with significant volumes of selling opportunities.
“The demand for housing in the UK remains high and Kevin and his team are market leaders in enabling and facilitating deals, giving its members all they need to deliver much needed housing for the public.”
DenCo Advisory is one of the founding LNH Funding partners. Managing director Mark Denney, said: “DenCo is proud to be partnering up with this fantastic network. 10 years on from the banking crisis the lending landscape has changed drastically. DenCo aims to assist developers and SME house builders in navigating this landscape. It’s not simply a case of providing terms, we aim to manage transactions through to completion. We advise at every stage of the deal with the sole aim of generating value for our clients.”
With coverage in more than 450 locations nationwide, Land & New Homes Network has become a one-stop shop to find, facilitate and support opportunities for house builders to build homes and estate agents to expand their portfolios of new homes.