Simon Brooks, lead originator at Investec Structured Property Finance, commented:
“Clearly this is a welcome move that will help some developers improve the viability of sites and will hopefully give more certainty to developers when they acquire unconsented sites with a view for residential development.”
“Whist this may allow us to support more schemes where planning has not yet been achieved, I don’t think it will be a silver bullet as developers and planners will still ultimately need to consider massing proposals in conjunction with the local landscape and other issues such as rights to light.”
“Softening density restrictions dovetailed with clear guidance on how to fast track applications with a 35 per cent affordable provision is very welcome. I suppose an unintended consequence of all of these measures along with the chancellors stimulus for first time buyers last week is that are we going to just end up with lots of sub £500k one bed flats? Will we actually see more development? Or do we get to our 300k homes each year by incentivising developers to build 2 or 3 one bed flats when they were previously building 2 or 3 bed homes?”