Funding – The Greater Manchester Housing Fund was established two years ago giving developers access to another stream of loan funding to help kick start viable residential schemes. Loan funding is fully recoverable and it is estimated that the £300 million could be used 2.5 times over the fund’s life, delivering a total residential development value of £1.5 billion.
The Fund is designed to help a full range of residential schemes in all locations and we welcome approaches from small and medium sized developers from across the region
To date the Fund has committed more than £420m to help deliver more than 5,150 units at 40 sites across Greater Manchester. Whilst the Fund reached the £300m milestone after two-and-a-half years it is open for business utilising recycled funds and will continue to invest in more homes across the region.
Developers can still get a loan to kickstart housing projects that would otherwise be difficult to fund from elsewhere.
- Any loan size considered between £500k and £30 million
- Security requirements dependent on project specifics
- Maximum four year loan term, longer terms considered case by case
- Stretch senior debt and mezzanine finance options available and equity investment will be considered.
Read their leaflet to find out more.
If you would like to speak in confidence about potential financial assistance please get in touch for an informal chat.
Contact – e-mail firstname.lastname@example.org
or call 0161 778 7011