Figures illustrate that in May, UK construction saw an increase in productivity. The Markit/Chartered Institute of Procurement & Supply purchasing managers’ index (PMI) improved to 55.9 in May after a 22-month low of 54.2 from the previous month. This slump in activity was a direct result of the UK General Election on May 7th due to the uncertainty that it bought. This increase in figure has surprised economists as they had been expecting a smaller increase of around 55.
It was forecasted by building companies and estate agents that there would be a nose dive in activity during the election run up. WS Atkins, the UK engineering consultant warned of a ‘hiatus’ in construction work around the UK General Election as spending decisions were delayed as companies aired on the side of caution to ensure that they would not loose funds.
With the newly elected Conservative Government, shares in house builders also increased. Prime Minister David Cameron has pledged to increase the number of new homes being built in Britain each year to alleviate the housing crisis. This positive step is the first sign of postelection bounce back in the UK Construction Sector and with the Conservative’s house building policy of overseeing the construction of 200,000 new ‘starter homes’, is one to stay.
Sourcing finance for development is tough and mainstream lenders do not make the process straightforward. This has led to individuals and companies seeking financing for development via alternative options. Peer-to-Peer lending platforms are growing from strength to strength and are posing the question to whether they are a threat to banks and traditional forms of finance.
Wellesley & Co is a Peer-to-Peer lending platform with an innovative model. We offer investment products to our lenders and lending options to our borrowers all at hugely competitive rates. Wellesley select developers with experience and a real passion for their project. The Wellesley Credit Committee would only accept a credit application if they, presented with the facts, believed that the development would succeed.
We offer a four hour turnaround from the initial application request, for further information regarding potential borrowing with Wellesley, please email [email protected] .