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Santander to Launch £100m Scheme for SME Housebuilders

Santander Corporate & Commercial is to launch a new scheme worth £100m to support SME housebuilders.

Santander Corporate & Commercial is to launch a new scheme worth £100m to support SME housebuilders. The scheme will contribute to addressing the challenges of the UK housing market, as well as creating jobs. 

Recent surveys have identified that one of the primary constraints on the SME House Building sector is the availability of finance. Santander Corporate & Commercial will be able to provide an innovative stretch funding package (a combination of senior and mezzanine debt) for SME housebuilders which should help to increase activity. 

The scheme, which will commence on 25th March 2015, is aimed at existing housebuilders with a successful track record. It will be headed up by Andrew Whelan, Managing Director, Regional Real Estate, who will be supported by teams in London and Manchester. 

Steve Pateman, Head of UK Banking at Santander, said: “We are aware that many small house builders struggle to raise the equity required to support conventional bank debt; by allocating part our Breakthrough Growth Fund to this sector, we will be able to bridge some of this gap with a tranche of mezzanine finance that will hopefully allow many of these small house builders to build out their land banks and from there go on to develop more sites. This will benefit not only the housing market but also the broader UK economy.”

About Us
Santander Corporate & Commercial
provides dedicated relationship banking support to businesses with a turnover of more than £250,000. It is part of Santander UK, a leading financial services provider in the UK which offers a wide range of personal and commercial financial products and services. At 31 December 2014, Santander UK serves around 14 million active customers with c. 20,000 employees, 921 branches and 66 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

About Us
Banco Santander (SAN.MC, STD.N, BNC.LN)
is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone by market capitalization. Founded in 1857, Santander had EUR 1.43 trillion in managed funds, 12,950 branches – more than any other international bank – and 185,400 employees at the close of 2014. It is the largest financial group in Spain and Latin America. It also has significant positions in the United Kingdom, Portugal, Germany, Poland and the northeast United States. In 2014 Santander made an attributable profit of EUR 5,816 million, 39% more than the previous year.

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