Relendex has secured a co-investment partnership with the British Business Bank to support SME housebuilders and developers across the UK.

Under the arrangement, the British Business Bank has committed £15 million, which will be managed by Farringdon Portfolio Ltd, Relendex's Appointed Representative.

Paul Sonabend, Chairman of Relendex, commented: "We are proud to be working with the British Business Bank to expand the reach and impact of our lending programme. Relendex was founded to support regional housebuilders by providing tailored, flexible finance, and this partnership is a strong endorsement of our model. With the Bank's support, we can scale up our role in delivering high-quality homes, including affordable housing, and play our part in driving growth across the UK housing sector."

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The partnership allows the British Business Bank to invest up to 25% in every eligible loan to SME housebuilders, on equal terms with other Relendex investors. This co-investment framework enhances Relendex's ability to provide flexible, tailored finance to small and medium-sized builders, helping them deliver new homes and contribute to growth within the housing sector.

Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank, added: "We are pleased to make this commitment to Relendex, supporting lending to SME housebuilders across the UK. SME housebuilders are key to building a diverse housing sector, providing greater consumer choice and leveraging local expertise. Our commitment will help developers to build new homes, refurbish existing properties and use modern methods of construction to grow the UK’s housing stock, supporting the government's target of building 1.5m new homes over the next five years."

Since its launch, Relendex has originated around £200 million in loans and expects this partnership to accelerate the expansion of its loan book in the coming years.