British Business Bank ENABLE Build programme launches, offering further support for smaller housebuilder finance

British Business Bank’s ENABLE Build programme is now accepting applications from lenders. The programme, which was included in Chancellor of the Exchequer, Philip Hammond MP’s Autumn Budget 2018, will make available up to £1bn of guarantees to support lending to smaller housebuilders, via specialist and high street banks.Provided by the Ministry of Housing, Communities and Local Government (MHCLG), ENABLE Build is a new variant of the Bank’s existing ENABLE Guarantee programme. This backing for ENABLE Build will allow the Bank to expand further its support to banks targeting the housebuilding sector. It follows three previous British Business Bank transactions that guarantee portfolios of lending to smaller housebuilders to promote further growth in the UK’s housing stock.The Bank will leverage Homes England’s expertise of the housing market and residential real estate finance, working closely together to consider applications and deliver ENABLE Build successfully. This will help to address challenges faced by smaller housebuilders in accessing finance, delivering growth as part of the modern Industrial Strategy.