Kuflink Bridging, the Kent based short term lender, believes that the expansion of Sajid Javid’s existing brief to include housing as well, signals a sea change in the way that successive governments have regarded the property market and the issues of lack of new home provision.
Narinder Khattoare, Kuflink chief executive, said: “I am excited that at last, housing, and by extension the property market, is going to be represented at Cabinet level for the first time, certainly in this century.
“The Chancellor’s commitment to house building last Autumn will carry more weight now that we have a senior minister with housing in his brief. Housing has been like the unwanted lovechild, shuffled from one 2nd tier minister to another.
“I had been worried that with the government’s increasing focus on Brexit, the Chancellor’s promises would have as little chance of seeing a proper outcome as many of his predecessors’ did.
Khattoare added: “However, Mr Javid has a real opportunity to put flesh on the bones of the Chancellor’s Budget promises.
“Consequently, over time the requirement for cashflow finance can only increase for businesses allied to the building trade. The next two years should be very positive for the bridging market.”