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£100m funding boost for house builders

first_imgThe Government has pledged to match the £50 million promised by Lloyds Banking Group in October to help increase the supply of needed new homes across the country, the Housing Minister Brandon Lewis (left) announced this week.The Housing Growth Partnership will act as a dedicated initiative alongside small builders to invest in new developments, with the ultimate aim of increasing housing supply.The latest house building data reveal that housing starts are now at a seven-year high and climbing, while the volume of homes granted planning consent has reached 261,000 – the highest since 2007.But to help “maintain this momentum and keep the country building”, Lewis said that the Government recognised that greater investment in the sector is needed.He commented, “The 2008 economic crash devastated our army of small builders, with delivery falling from 44,000 homes to just 18,000 – seven years on, companies are getting back on their feet but we’re determined to give them all the help they need.”Lloyds Banking Group said that it welcomed the Government’s announcement of support for the housing growth partnership, which will double the capability to support SME house builders.Andrew Bester, Group Director and Chief Executive, commercial banking at Lloyds Banking Group, said, “The challenge of housing supply and affordability is one of the biggest issues facing Britain today.”“It [the funding] will provide SME house builders with much needed equity to support residential development projects, to stimulate growth in their businesses and facilitate access to conventional property development finance,” he added.The Federation of Master Builders (FMB) estimate that the SME house building sector could deliver an additional 20,000 homes per year if their access to finance was improved, putting a significant dent in the UK’s housing supply requirements.Ahead of this week’s Budget, the FMB has called on the Chancellor to improve access to finance for SME house builders, which have consistently cited this as their primary barrier to building more new homes.Estimates by FMB members suggest that, output from SME house builders would increase by as much as 100 per cent if the loan to project value ratios on offer were improved to 80 per cent from a standard 60 per cent. Based on recent housing statistics, this could equate to almost 20,000 new homes being built, making a significant impact on the supply side gap in the UK housing market.Brian Berry (left), Chief Executive of the Federation of Master Builders, said: “Conservative ministers have been incredibly successful in improving access to mortgage finance and reviving demand in the housing market, but access to finance for those in the business of supplying new homes has remained extremely difficult. There remains a reluctance by many banks to lend to SME house builders to help finance small housing developments.”He added, “Given how far behind demand we are, this issue is just one part of a much wider solution. However, 20,000 homes is a significant number. SMEs clearly have a big part to play in solving the housing crisis, but they need a financial environment which empowers them as it has done in the past. Given that our members identified access to finance as the primary barrier they face when trying to build more new homes, this measure could do wonders to help our industry.”house-builders housing development Housing Minister Brandon Lewis Brian Berry builders Federation of Master Builders funding July 8, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » £100m funding boost for house builders previous nextHousing Market£100m funding boost for house buildersSmall developers are set to benefit from greater financial support from the Government, Housing Minister Brandon Lewis has revealed.The Negotiator8th July 20150639 Viewslast_img read more

Gov’t Mule Debuts The Yardbirds Cover With Magpie Salute Members In Mankato [Video]

first_imgLast night, Gov’t Mule’s summer tour continued with a stop at the Verizon Wireless Center in Mankato, Minnesota. Once again, The Magpie Salute opened the night and returned to the stage later in the evening to join Gov’t Mule’s encore with back-to-back covers of Blind Faith‘s “Presence of the Lord” and the band’s debut of The Yardbirds‘ “Shapes Of Things”.To open the show, the Magpie Salute—featuring Rich Robinson and other ex-members of The Black Crowes—heavily leaned on their new album, High Water I, also sneaking in a cover of The Black Crowes’ “Thorn In My Pride” and The Byrds’ “Eight Miles High, for their forty-five-minute set.Warren Haynes and company took the stage next for one single set, pulling heavily on their original material, with selections from 2017’s Revolution Come…Revolution Go on mighty full display. Almost halfway through the set, they played the album’s title track then welcomed out Matt Slocum for “Girl With No Self-Esteem” from the same record. The Magpie Salute keyboardist stuck around for a cover of Jeff Beck‘s “Freeway Jam” before Mule closed their set with a band-only “Mule”.As has been the custom for this tour, Mule also brought up members of The Magpie Salute for the encore. Rich Robinson,  Matt Slocum, guitarist Marc Ford, and vocalist John Hogg joined Gov’t Mule for smoking covers of Blind Faith’s “Presence of the Lord” and The Yardbirds’ “Shapes Of Things”, with the latter marking Mule’s debut of the cover.Watch fan-shot video of the double encore below:[Video: alzeppelin]Gov’t Mule has three more shows with The Magpie Salute before they team up with Lukas Nelson & The Promise of the Real in Sun Valley, ID. From there, Gov’t Mule will continue out on the road solo throughout their fall tour, including their customary Mule-o-ween performance. Head here for a list of upcoming Gov’t Mule shows.Setlist: Gov’t Mule | Verizon Wireless Center | Mankato, MN | 8/29/2018Mr. Man, Blind Man In The Dark, Mr. High & Mighty, Mother Earth, Lola, Leave Your Light On, Unring The Bell, Endless Parade, Monkey Hill (with She’s So Heavy ending), Thorns Of Life, Revolution Come, Revolution Go, Girl With No Self-Esteem (with Matt Slocum), Freeway Jam (with Matt Slocum), MuleE: Presence Of The Lord with Rich Robinson, Marc Ford, John Hogg & Matt Slocum), Shapes Of Things (with Rich Robinson, Marc Ford, John Hogg & Matt Slocum)[H/T JamBase]last_img read more