Smaller builders still ignored by clearing banks for loans
Homes England’s chairman Peter Freeman told MPs there was still a real gap in the market among the major banks for lending to smaller housebuilders. Mr Freeman, the co-founder of the property developer Argent, related that 20 years ago he had walked into NatWest asking for a loan which he got within an hour of applying. But he said this was no longer the case and that clearing banks were only interested in lending to builders who constructed 500 homes [...]