Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_1399825421
May 20 2019

EasyMoney warns Brexit uncertainty is restricting finance available to developers

Marc Shoffman Industry News, News, Property Andrew de Candole, Brexit, easyMoney, p2p, peer-to-peer, property

A RELUCTANCE to lend among mainstream banks has led to a fall in the number of new housing developments given planning approval for the first time since 2011, EasyMoney claims.

Analysis of government data by the peer-to-peer property lender found the number of residential planning approvals hit a three year low in 2018, falling by four per cent to 47,500 last year from 49,600 in 2017.

Further analysis of Bank of England data by EasyMoney revealed that the value of outstanding bank lending to property development businesses fell to £14.5bn in November 2018, down from a peak of £35.9bn in November 2013.

Read more: EasyMoney: Savings decline “worrying” in Brexit climate

Read more: EasyMoney: Lack of funding is curbing efforts to tackle housing shortage

Andrew de Candole, chief executive of EasyMoney, said Brexit-related uncertainty is leading to banks reducing their lending to property developers, forcing them to postpone new developments.

“Britain desperately needs new homes – but developers don’t have the financial firepower to make it happen,” he said.

“Until Brexit is sorted and some certainty is provided, the funding from mainstream lenders required to get projects going is unlikely to start flowing.”

“Developers have the land and the demand for homes is there, but the increasing lack of support from lenders is making it difficult to get projects moving.”

Read more: EasyMoney calls for cash ISA risk warning

Crowdfunding crazy! The latest P2P fundraising campaigns LendingCrowd inks £18.75m funding deal with Scottish and Dutch investment banks

Related Posts

Young african american shopkeeper woman wearing medical mask working at clothing store

Industry News, News, Top 3

Fintech sector showed resilience during Covid-19

nikhil-rathi-high-res

Industry News, News, Top 3

Nikhil Rathi unveils new hires amid FCA restructure

Auditor with magnifying glass checking financial report.

Industry News, News, Top 3

Kalifa review to call for independent fintech body

Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by