Welsh Government loan fund will boost SME builders, says FMB Cymru

Welsh Government loan fund will boost SME builders, says FMB Cymru

The multi-million-pound Welsh Government fund established to help small builders will boost housebuilding in Wales, according to the Federation of Master Builders (FMB) Cymru.

Commenting on the announcement by the Welsh Government that it has created a £160m loan fund for small house builders Ifan Glyn, Director of FMB Cymru, said: “Problems accessing finance limits the ability to unlock stalled sites which is a key barrier for small housebuilders in Wales, so this announcement is welcome.

“Welsh Ministers should be recognised for listening to the pleas of FMB Cymru and taking direct action to help local builders build. In Wales, we need to become less reliant on large housebuilders to build our way out of the housing shortage and measures such as this are a step in the right direction.

While we are pleased that the Welsh Government has chosen to take steps in tackling the problems accessing finance, there are a multitude of other problems that small Welsh housebuilders face. Anecdotally, we know that the majority of Welsh firms find that the lack of available and viable land is the major barrier to increasing output. More worryingly still, over half say that the number of available small sites is, if anything, decreasing. If the Welsh Government wants to meet the ambitious housing targets, it needs to ensure that the long-constrained SME housing sector can once again access viable land, as well as finance.”

www.fmb.org.uk

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