Penny Germaine-Chatwin
Marketing & Communications Manager
Published Sept 3, 2025
Relendex is delighted to announce a new partnership with the British Business Bank, marking a major milestone in its mission to support the SME housebuilding sector and contribute to the government’s initiative to get Britain building homes again.
The British Business Bank’s £15m commitment will be managed by Farringdon Portfolio Ltd, Relendex’s Appointed Representative, which already manages a growing proportion of its investors’ portfolios. Under the new partnership, the British Business Bank will invest up to 25% in every eligible loan to SME housebuilders and developers, on equal terms with all other Relendex investors.
This co-investment framework significantly strengthens Relendex’s capacity to provide tailored, flexible finance to SME housebuilders. These businesses can play a crucial part in boosting the development of new homes and driving growth across the UK housing sector. To date, Relendex has originated approximately £200 million in loans and anticipates rapid expansion of its loan book in the coming years, supported by this partnership.
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.”
Martin Murphy, Lending Director at Relendex, added:
“Partnering with the British Business Bank represents a significant step in strengthening both our reputation and our ability to support SME housebuilders. These businesses play a vital role in addressing the UK’s housing shortage, yet often face barriers in accessing the right finance. With the British Business Bank now co-investing alongside our retail and platform investors, we can provide more housebuilders with the certainty and funding they need to deliver much-needed homes.”
Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank, said:
“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”
About the British Business Bank
The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government. The British Business Bank’s core programmes support £23bn1 of finance to almost 64,0002 smaller businesses.
As well as increasing the supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of finance options available to smaller businesses. The British Business Bank's Business Guidance Library provides independent and impartial information to businesses about finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success.
The British Business Bank is also responsible for administering the government’s three Coronavirus loan schemes and its Future Fund, together responsible for delivering £80.4bn in finance to 1.67m businesses. These schemes are now closed to new applications.
British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at www.british-business-bank.co.uk.
The Investment Programme is operated by British Business Investments Ltd, a wholly owned commercial subsidiary of British Business Bank plc. British Business Investments Ltd is registered in England and Wales with company number 09091930, and registered office at Steel City House, West Street, Sheffield, S1 2GQ.