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Parliamentary Group launches housebuilders finance inquiry

The All Party Parliamentary Group (APPG) for SME Housebuilders has launched a new inquiry into issues SME housebuilders face 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. 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 housebuilders 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 policymakers 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. It 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 we encounter daily 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 policymakers.”

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