Online mortgage specialist LendInvest has kicked off a non-profit initiative in Scotland aimed at helping budding housebuilders and property developers to secure finance for their plans.
The launch of the LendInvest Property Development Academy in Edinburgh was attended by Scottish housing minister Kevin Stewart, who said small-scale developers were “essential” in creating a healthy housing market.
He added: “Initiatives like the LendInvest Property Development Academy demonstrate the opportunity for industry, government and communities to work together to build more homes.”
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The academy has been operating in Birmingham, Bristol, London and Manchester since last year, running two-day courses offering intensive training, case studies and talks by industry experts. With the facility now up and running in Edinburgh, more than 200 people are expected to attend its courses around the country this year.
Ian Thomas, co-founder and chief investment officer at LendInvest, said: “This Development Academy provides Scottish property entrepreneurs with the tools they need to get their projects off the ground, supporting them to navigate the challenges of securing land, obtaining finance, and ultimately adding new homes to Scotland’s housing stock.”
The London-based firm established a presence in the Scottish market last year, with its initial batch of bridging loans including £480,000 for an investor buying at the Quartermile regeneration scheme in Edinburgh.