Isn't it about time lenders caught up on MMC?

No doubt there has been a rapid interest in the UK with MMC in particular the past 5 years, some of those stumbling blocks have been overcome which is really down to education. Key factors including land, local authority red tape and access to OSM production capacity. The industry giants placed outside the UK including Baltic States, Middle East, Far East and Northern America. Equity investors crave productivity using better faster build technology, although many development funding lenders dragging their heals behind. I would welcome these professionals to join me on a journey of discovery indeed the new Housing Minister replacing Esther McVey! Without experiencing such vast OSM knowledge aside of visiting UK factories and perhaps a couple overseas how are they best placed to cast opinion and make decisions?

Homegrown OSM's on the increase to cater for a 300,000 need for homes albeit just over half of that being achieved and only 10% being built using MMC. It's truly shocking. Overseas OSM's have money, production capacity and decades of experience delivering homes worldwide however majority of which nervous to expand to what is a fickle UK market. We managed to see 50 of those OSM's and over time have built trust to consider expanding their market share, it's been a fascinating continuous journey covering thousands of miles per year.

Development Finance Today magazine reports

"Modular construction has been highlighted as one of the “key solutions” to help the housebuilding industry deliver more homes and meet the government’s housing targets, according to Christy Hayes, CEO at Tide Construction.

Christy’s comment was in response to the National House Building Council’s (NHBC) ‘New Home Statistics Review 2019’, which features information on new home construction and the housebuilding industry. The UK housebuilding warranty and insurance provider revealed that 161,022 new homes were registered in 2019, with 112,086 in the private sector and 48,936 in the affordable and rental sector. The NHBC also announced that a total of 150,436 new homes were completed in 2019 and 1.4 million new homes had been registered to be built in the past decade.

These figures relate to new homes registered with NHBC for its 10-year warranty, which it claims accounts for around 80% of all new homes built in the UK.

"It is encouraging that housebuilding remained resilient in 2019, despite the economic and political uncertainty of recent times,” said Christy. "However, if we are to meet the government's target of building [1.5 million] homes by [2022], then diversity in supply and construction will be crucial."As the industry strives to deliver a greater number of homes, modular construction must be seen as one of the key solutions.” Click here for the full story.