Partnership of £15m established between Relendex and BBB is unveiled

The British Business Bank has announced a significant partnership with UK development finance platform, Relendex. The collaboration aims to drive growth across the UK housing sector, particularly by providing tailored, flexible finance to Small and Medium-sized Enterprises (SME) housebuilders.

Under the partnership, the British Business Bank will invest up to 25% in every eligible loan to SME housebuilders and developers. This investment will be made on equal terms with all other Relendex investors. The British Business Bank's £15m commitment for the partnership will be managed by Relendex, with Farringdon Portfolio Ltd, an appointed representative of Relendex, overseeing investor portfolios and supporting SME housebuilders and developers.

Farringdon Portfolio Ltd, a company that manages a £15 million commitment from the British Business Bank, is part of a co-investment partnership with Relendex. This partnership is expected to deliver high-quality homes, including affordable housing, across the UK.

Relendex, which has originated approximately £200m in loans, anticipates rapid expansion over the next few years. The partnership with the British Business Bank will help expand their lending program, as stated by Paul Sonabend, chairman of Relendex. The co-investment framework will significantly strengthen Relendex's capacity to provide finance to SME housebuilders.

The collaboration between Relendex and the British Business Bank will play a role in driving growth across the UK housing sector. This news comes as a positive development for the UK housing market, with the partnership aiming to deliver high-quality homes and contribute to the sector's growth.