Commercial Loans News:-Housing minister, Esther McVey, has earmarked nearly £2m for local authorities to crack down on illegal developments on green belt land.

The funds will enable councils to use technology, hire enforcement officers and help meet the legal costs of bringing rogue developers to book.

Speaking at the RESI conference in Newport, Ms McVey said the money would be given to areas with the highest proportion of green belt land.

“Once the green belt is built on it’s often gone for good that’s why we are determined to protect it. The public has told us loud and clear they want it kept for future generations to enjoy.”

She announced that 37 councils in areas with significant green belt land would be receiving up to £50,000 each to help with the clampdown on the problem.

Commercial Loans by HZA

Brokers Hank Zarihs Associates said bona fide developers would welcome measures to stop developments without planning permission. The brokerage added commercial development finance lenders won’t offer construction loans nor fast bridging finance to schemes without planning permission.

Hank Zarihs Associates | Nearly £2m pledged to combat rogue developments on the green belt

The green belt has shrunk over the last seven years

The ministry of housing, communities and local government, MHCLG, statistics show the green belt was 16,295 sq km at the end of March 2018 – 100 sq km fewer than it was in 2010-11.

Research suggests the number of homes being built on the green belt has been increasing. According to construction researchers, Glenigan, there were 8,143 homes built on the green belt in 2017-18 – a 92 per cent increase on the previous year.

In an update to the national planning policy framework last year, the government restated its commitment to protecting the green belt.

MHCLG  is teaming up with the Royal Town Planning Institute to overhaul the national enforcement handbook.

The updated handbook will provide the latest best practice and expertise on shutting down illegal building and preventing it from happening. It will also help ensure developers obtain full planning permission before a shovel hits the ground.

House prices show surprise September dip
First-time buyer interest still in positive territory
author avatar
Shiraz Khan is the author of the content. Shiraz is the managing director and founder of Hank Zarihs Associates. With over 16 years' of experience we are master brokers within the short term financing industry. We specialise in a wide variety of short term loans.