FMB: majority of SME builders unaffected by Brexit
Only 31% of SME builders have seen significant changes to business as a result of the EU referendum, according to research carried out by the Federation of Master Builders (FMB).
A recent survey carried out by the FMB found that 69% of SME builders asked are yet to see any significant change to their business.
Noel Meredith, executive director and head of United Trust Bank’s development finance division, said: “The UK continues to suffer from a chronic shortage of new housing and the SME developer sector has a vital role to play in meeting the need for new homes.
“Securing development finance is consistently reported as one of the key challenges facing SME builders and some may be concerned that banks will be less inclined to lend in the current environment. However, whilst some lenders may be less active, experienced specialist lenders, like United Trust Bank, remain committed to supporting this important sector and have a strong desire to keep lending.
“We recognise that the demand for good quality, reasonably priced housing is going to endure for several years, if not decades, to come, and that SME developers are vital in meeting the target of 1m new homes by 2020.”