Supporting Housing Development in the West Midlands
Launched by the West Midlands Combined Authority (WMCA), the RIF is open to residential developers seeking capital for developments and regeneration opportunities.
Funding is designed to bring inward investment and meet housing needs in the WMCA region, accelerating site regeneration and supporting strong cities and diverse town centres.
- Funding for residential developments located within the West Midlands Combined Authority area.
- Development finance from £1m to £10m.
- Funding can be provided by way of Senior Debt, Mezzanine Finance or Equity Investment, fully secured where possible at commercial rates.
- Eligible projects require a minimum of ten units and must include 20% Affordable Housing,
- Maximum repayment term of 4 years.
- Known or referenced developers with a successful and proven track record.
- Strategic brownfield regeneration sites that are unlikely to be redeveloped in the short term via normal capital markets.
- Funding cannot be utilised for Land Banking.
- Located within the West Midlands Combined Authority area.
- All cases are subject to a formal credit approval process. Proposals are looked at on a case by case basis.
- Terms and fees will apply.