Property developers are struggling to get the cash they need to build, according to a new report. It’s a real headache for anyone wanting to get into the property game, and could mean fewer homes being built.

The research, carried out by Shawbrook, shows that a massive 77% of developers say finding funding is the biggest pain point in their business. And it’s not just a lack of options – 75% say there are just not enough lenders out there who are willing to back them.

Things are even tougher for those just starting out. 80% of developers say it was a real struggle to find funding when they first began, and 74% say it’s harder to get money if you’re a smaller outfit.

Rejected, Rejected, Rejected

Many developers have been turned down for loans, with over a quarter (26%) saying they’ve been rejected by mainstream lenders multiple times. That’s a real kick in the teeth, and it can be hard to stay motivated when you keep getting knocked back.

The Experts? They’re Hard to Find

It’s not just about finding the money. Developers also struggle to find the right expertise. A huge 78% say it’s tough to find someone who really understands the ins and outs of funding, while 77% think specialist lenders are much better at supporting developers.

What This Means for the Housing Market

The report’s authors are worried that this funding crunch could seriously hinder efforts to build more homes. Terry Woodley, head of development finance at Shawbrook, said: “Developers need help to navigate the complex world of funding and get access to the money they need. If we don’t address this issue, promises to build more homes will just be empty words.”

It’s clear that developers are struggling, and it’s time for lenders to step up and provide the support they need. Without it, the UK’s housing shortage will only get worse.