Santander is to introduce a £100 million scheme to help SME housebuilders.

The scheme, which will launch on 25th March 2015, is aimed at existing housebuilders with a successful track record. It will be headed up by Andrew Whelan, Managing Director, Regional Real Estate at Santander.

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Steve Pateman, Head of UK Banking at Santander, said: "We are aware that many small housebuilders struggle to raise the equity required to support conventional bank debt; by allocating part of our Breakthrough Growth Fund to this sector, we will be able to bridge some of this gap with a tranche of mezzanine finance that will hopefully allow many of these small housebuilders to build out their land banks and from there go on to develop more sites."

(CD)