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Scottish government orders building site closures

Commercial Finance News:- Construction firms north of the border have been told to shut up shop unless their work is for essential projects due to the coronavirus pandemic. Work related to supporting crucial work to deal with Covid-19 such as repurposing buildings to offer clinical care will be allowed. Economy secretary Fiona Hyslop said she recognised this was difficult for all kinds of businesses, but the government’s priority was to save lives. “To this end, all construction sites should close [...]

By |2024-06-27T03:08:24+00:00April 7, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Housebuilders call on the government to extend planning permissions

Bridging Loans News:- Extend planning approvals by a year to avoid current permissions lapsing during the pandemic crisis, urges the construction industry. The National Federation of Builders, NFB, has put six proposals forward to the government to help the housebuilding sector survive the coronavirus pandemic. These include exemption from business rates, suspending planning contribution payments and council tax on new build unoccupied or incomplete homes. NFB chief executive, Richard Beresford, said it was in constant contact with its members so [...]

By |2024-06-27T03:07:53+00:00April 6, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Government-backed loan scheme extended to all SMEs

Bridging Finance News:- All viable SME businesses will now be eligible for the coronavirus business interruption loan scheme, the chancellor Rishi Sunak has announced. The government is also going to stop banks from asking for personal guarantees from directors for loans under £250,000. Loans over this sum will need personal guarantees of 20 per cent of the amount after recovery of other business assets. Mr Sunak said: “We are making great progress on getting much-needed support out to businesses to [...]

By |2021-11-13T09:24:56+00:00April 3, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Construction industry wins business secretary praise

Development Funding News:- Business secretary, Alok Sharma, has thanked the construction industry for rising to the challenge of ensuring people have safe and healthy homes and helping the NHS. Mr Sharma wrote an open letter yesterday, March 31, praising the sector for supporting the country and the economy in its time of need. “The construction industry has answered the call to action. Whether by building temporary hospital wards, installing complex and life-saving oxygen systems, constructing the infrastructure that society needs [...]

By |2021-11-13T09:25:04+00:00April 1, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Housebuilders need to carry on, says business minister

Finance Lenders News:- Business minister, Nadhim Zahawi, has defended private sector enterprises, such as the building industry, still operating in the wake of the Covid-19 crisis. Mr Zahawi writes in The Telegraph that “we still need to build houses” and sectors such as the construction industry and online delivery retail outlets had been unfairly criticised. “We have seen some, intentionally or otherwise, wrongly interpreting the current rules, and unfairly criticising businesses that are implementing them correctly.” He described it as [...]

By |2021-11-13T09:25:12+00:00March 30, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Construction industry presses for clear message about building sites

Bridging Loans News:-Clarity over which construction sites should stay open and which must close is essential, the industry has urged. Construction Industry Council, CIC, chief executive, Graham Watts, said work to make good unsafe buildings or dangerous structures should continue. “In the absence of firm advice, some construction companies are taking matters into their own hands and closing for the foreseeable future or until there is more clarity. It is currently a matter of mess and muddle,” said Mr Watts. Taylor [...]

By |2021-11-13T09:25:18+00:00March 27, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Builders’ merchants open for business again

Bridging Loans News:- Builders merchants are re-opening their doors after the government told them to stay open to support the construction industry supply chain. Howdens, Huws Gray, Jewson, Ridgeons, Selco and Travis Perkins closed their branches yesterday, March 24, following the government’s advice on Monday that people should stay at home. However, the government told them via their trade association, the Builders Merchants Federation, BMF, to continue operating. BMF chief executive, John Newcomb, said during a construction leadership taskforce meeting [...]

By |2021-11-13T09:25:28+00:00March 25, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Building firms urged to keep cashflow alive

Construction Loans News:- Keep your supply chain up and running by paying suppliers and staff, urges construction trade body, Build UK. The organisation called on construction firms to act responsibly following the chancellor, Rishi Sunak’s announcement on Friday, March 20, of a raft of business support measures. “The aim is to keep cash flowing through the whole supply chain so that businesses of all sizes can survive the current crisis,” it said. Build UK wants firms to hang on to [...]

By |2021-11-13T09:25:34+00:00March 23, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Smaller developers press chancellor for tax break

Bridging Financing News:- Small and medium-sized building firms are calling for a three-month tax holiday on VAT, pay as you earn and construction industry scheme contributions to prevent wide-spread insolvencies. The Federation of Master Builders, FMB, has written to the chancellor, Rishi Sunak, and business secretary,Alok Sharma, asking for immediate support in the wake of the coronavirus. They say three-quarters of their 7,500members have reported delayed or cancelled projects and just under two-thirds have seen a fall in enquiries. Nearly [...]

By |2021-11-13T09:25:41+00:00March 20, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Builders on red alert for site closures and lay-offs

Instant bridging finance News:-The construction industry is grappling with the challenge of supply chain disruptions, staff sickness and site closures caused by the coronavirus. The National Federation of Builders, NFB, said members had reported issues of absence due to self-isolation and this was likely to change rapidly in the next few days. NFB chief executive, Richard Beresford, said: “The government and the construction sector needs to also recognise the risk of mass absence from construction sites and the potential impact [...]

By |2021-11-13T09:25:47+00:00March 18, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Sadiq Khan forced to rethink London plan to generate more homes

Property Finance News:- Housing minister, Robert Jenrick, has taken the controversial step of telling the mayor, Sidiq Khan to overhaul the London plan to allow more houses to be built in the capital. Mr Jenrick has ordered Mr Khan to change the housing mix in favour of family-sized homes, to build more densely around stations and to bring more small sites forward. The housing minister has told the mayor he must produce an updated plan in line with national policy [...]

By |2021-11-13T09:25:56+00:00March 16, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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Chancellor looks to the sky for boosting new housing

Bridging Finance News:- Building homes above train stations, shops and converting disused buildings is to become easier with the government announcing new permitted development rights from the Summer. The ministry of housing, communities and local government said developers would be able to demolish vacant commercial, industrial and residential buildings and replace them with homes. Our Bridging Finance range covers auction purchases, to private sales and all levels of refurbishment works. Bridging finance is ideal when you need funding fast, with [...]

By |2021-11-13T09:26:04+00:00March 12, 2020|Blog, Finance News, Planning News, Projects|0 Comments
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