"Against a challenging economic backdrop, we need to be agile as a business and evolve to meet the needs of our clients. Expanding our proposition into structured finance, we are better positioned to do just this"
- Phil Hooper - Close Brothers Property Finance
Close Brothers Property Finance (CBPF) is celebrating its 50th year in business with plans to increase facility sizes and broaden its lending into the Purpose Built Student Accommodation (PBSA) and Build to Rent (BTR) sectors.
Since 2020, CBPF has provided more than £5.1 billion in funding to SME housebuilders, expanding its loan book to almost £2 billion. The business is currently supporting the delivery of over 7,350 new homes per year across the UK.
To accelerate its push into new sectors, the lender launched a Structured Finance team in 2025, led by Chiara Caldwell. The team is focused on growing CBPF’s presence in the fast-expanding BTR and PBSA markets, giving SME developers greater opportunities to compete in these areas.
Recent transactions highlight the scale and breadth of lending. These include the company’s first multi-site revolving credit facility of £38 million for Fernham Homes, supporting over 400 new homes across six sites; a £48 million loan to deliver 213 homes in Brent Cross, part of one of Europe’s largest regeneration projects; and a £44 million facility for Select Property to back 266 new BTR homes in Birmingham.
“At the heart of the business’ success over the past half century is our firm commitment to helping SME housebuilders," said Phil Hooper, CEO of Close Brothers Property Finance (pictured). "Greater diversity in housing stock means better quality homes and support for local economies, with SMEs prioritising the use of local supply chains and skilled labour. This is not just a milestone year for us - it’s a springboard for the next half century."
"Against a challenging economic backdrop, we need to be agile as a business and evolve to meet the needs of our clients. Expanding our proposition into structured finance, we are better positioned to do just this.”
CBPF emphasises long-term, trust-based partnerships with both clients and staff. The lender reports that the average employee tenure is over 10 years, contributing to continuity and deep market expertise. Customer relationships often span decades and extend across multiple generations, such as with Essex-based Anderson Development Group, which has delivered more than 800 homes with CBPF’s backing through loan facilities totalling £120 million.
The lender also plays an active role in shaping policy for SME developers. It was the first industry partner of the reconstituted All-Party Parliamentary Group for SME Housebuilders, and since 2020 has published the State of Play report with the Home Builders Federation and Travis Perkins. The research has been cited in Parliament and discussed at launch events with senior politicians and industry leaders.
Alongside financing, CBPF supports future talent and diversity through initiatives such as Tomorrow’s Developer and the Women in Property network, aiming to break down barriers and encourage broader participation in the property sector.
