Property Funding News:- Joanna Averley will be the first woman chief planner when she joins the Ministry of Housing, Communities and Local Government in September.
She is replacing Steven Quartermain who stepped down at the end of March after 12 years in the role.
Housing minister Chris Pincher said on Twitter: “Joanna’s experience and fresh thinking will help to ensure the planning system delivers the homes we need, now and in the future.”
Ms Averley said planners had a vital role for bringing in creative long-term thinking for bringing about a positive change.
“We have many challenges to address over the coming months and years – how we meet the needs of our communities in delivering good quality homes and neighbourhoods, underpinning the economy and jobs, delivering sustainable patterns of growth, addressing the climate crisis and adapting to the realities of the pandemic and its consequences,” she said.
| Product | Max LTV | Up to 50% LTV | 50.01 – 65.00% LTV | 65.01 – 75.00% LTV | Term & Repayment | Arrangement Fee |
|---|---|---|---|---|---|---|
| Residential Including Light Refurbishment | Up to 75% Lower of PP or MV | 0.43% pm | 0.53% pm | 0.60% pm | Maximum term 24 months No minimum interest or ERCs Interest Fully Rolled Up, Part-Rolled Up or Serviced (subject to affordability) The net advance will be less total potential interest over the term with the gross loan calculated as interest for the entire term and the arrangement fee added. | 1% -1.5% Full fee added to the loan. |
| Semi Commercial Including Light Refurbishment | Up to 75% Lower of PP or MV | 0.6% pm | 0.6% pm | 0.6% pm | ||
| Commercial Including Light Refurbishment | Up to 70% Lower of PP or MV | 0.75% pm | ||||
| Residential Heavy Refurbishment | Up to 75% Lower of PP or MV | 0.60% pm | 0.65% pm | 0.7% pm | ||
| Commercial and Semi Commercial Heavy Refurbishment | Up to 70% Lower of PP or MV | 0.83% pm | 0.83% pm | 0.7% pm | ||
New chief planner faces tough challenges
National Federation of Builders chief executive Richard Beresford said the industry looked forward to working with Ms Averley who would need to hit the ground running.
“We hope she is focused on tackling the uncertainty which plagues the planning process, as well as growing our communities in a sustainable and ambitious way, for example, on increasing the number of small and medium-sized sites.”
Property Funding by HZA
Brokers Hank Zarihs Associates said both SME builders and property development lenders were keen to see a speedier and more cost-effective planning system. The brokerage added a new person at the helm was an opportunity to make this happen.
Ms Averley has nearly 30 years´ experience as a town planner in local and central government and its agencies, as well as within the private and third sectors.
Previously she was Transport for London´s strategic manager for growth and development of cross rail 2 – the line connecting the south-west London suburbs with those in the northeast.
Other past jobs include Commission for Architecture and Built Environment deputy chief executive, Centre for Cities chief executive and Olympic Delivery Authority design director.
