Close Brothers is a long-established UK banking group, and its Property Finance division provides development and investment finance to experienced property developers and commercial landlords. It is known for backing small and medium-sized housebuilders, and was reported in 2025 to be funding more than 7,000 new homes across the UK. Bridge & Build Finance is an independent broker and is not part of Close Brothers, so we can compare its terms with other banks and specialist lenders. You can read more on Close Brothers' own website.
About Close Brothers
Close Brothers was founded in 1878 and is today a UK merchant banking group listed on the London Stock Exchange. Its lending is carried out through a bank, so it is regulated by the Prudential Regulation Authority and the Financial Conduct Authority. The group runs a family of specialist businesses, including asset finance, invoice finance, motor finance and property finance, and its short-term bridging business, Commercial Acceptances, is a separate brand within the group.
Close Brothers Property Finance describes its offer as bespoke finance for experienced property developers and commercial landlords, covering acquisitions, refinancing and building work throughout England, Scotland and Wales. It has been described as a supporter of smaller housebuilders for more than 50 years. In late 2025 it secured a £350 million ENABLE Build facility from the British Business Bank, which the bank said would support more than £700 million of development lending to SME housebuilders.
Close Brothers is one of the lenders we compare for development finance.
What Close Brothers funds
Close Brothers Property Finance does not publish fixed criteria, and terms are tailored to each scheme. At the time of writing (October 2026), the broad picture is:
| Area | What Close Brothers offers |
|---|---|
| Development finance | Ground-up residential schemes, including houses and apartments, and conversions |
| Mixed use and commercial | Residential-led mixed use and commercial schemes may be considered |
| Investment lending | Loans to commercial landlords against let property |
| Loan size and term | Not published; agreed case by case |
| Regions | England, Scotland and Wales |
Funds for building work are released in stages against progress, with a monitoring surveyor checking each stage, which is standard for development lending. For bridging, rather than development, Close Brothers' sister business Commercial Acceptances is the relevant lender within the group.
Our page on ground-up development finance explains how a staged build loan works.
Who Close Brothers suits (and who it may not)
Close Brothers Property Finance tends to suit:
- Experienced SME housebuilders with a track record of completed schemes.
- Developers who value a long-term relationship with a lender that funds scheme after scheme.
- Residential schemes across England, Scotland and Wales, from small sites to larger phased developments.
- Commercial landlords looking for investment lending alongside development.
It is usually a poorer fit for first-time developers, self-builders, and anyone who needs very high leverage, as it focuses on experienced borrowers and bank-style underwriting. Borrowers needing a short-term purchase or refurbishment loan should look at bridging loans instead.
What Close Brothers looks at
As a relationship-led bank lender, Close Brothers looks closely at the developer as well as the site. Expect it to consider:
- Your experience and track record on similar schemes, including how they performed on cost and timing.
- The development appraisal: land value, build costs, contingency, professional fees and gross development value.
- Planning permission and any conditions or obligations.
- The contractor, the build route and the programme.
- Local market evidence for sales values and demand.
- Your equity contribution and your wider financial position.
Pros and cons
Pros
- Part of an established banking group founded in 1878.
- Long history of lending to smaller housebuilders.
- Lends across England, Scotland and Wales.
- Relationship approach, suited to developers with a pipeline of schemes.
- Backed by a government ENABLE Build facility for SME housebuilders.
Cons
- Aimed at experienced developers rather than first-timers.
- No published criteria, so fit is hard to judge without a conversation.
- Bank-style underwriting usually means more conservative leverage than some specialist lenders.
- Property Finance lending covers Great Britain only.
Going through a broker vs going direct
Close Brothers deals with developers directly and with intermediaries. If you already have a relationship with it, going direct may make sense. If you do not, a broker can help you understand whether it is likely to suit and how its offer compares with other banks, specialist lenders and funds on leverage, fees and flexibility.
We search the market for development finance, prepare your appraisal and approach suitable lenders on your behalf, including Close Brothers where it fits. It is free to enquire, and any broker fee is disclosed before you proceed. See how development finance works.
Alternatives to Close Brothers
- Commercial Acceptances: Close Brothers' own bridging business, for purchases, refurbishment and smaller development cases.
- Shawbrook Bank: a specialist bank offering both bridging and development finance.
- United Trust Bank: development and bridging lending for SME developers.
- NatWest: high street bank development lending for established businesses.
- Heritage: development finance for smaller residential schemes.
Common questions
Does Close Brothers offer development finance?
Yes. Close Brothers Property Finance provides development and investment finance to experienced property developers and commercial landlords across England, Scotland and Wales.
Does Close Brothers lend to first-time developers?
Close Brothers says its property finance is for experienced developers and landlords, so first-time developers are unlikely to fit. Specialist lenders that accept less experience may be more suitable.
Does Close Brothers offer bridging loans?
Bridging within the Close Brothers group is provided by its sister business, Commercial Acceptances, which offers short-term finance for residential and commercial property purchases.
What is the Close Brothers ENABLE Build facility?
In 2025 the British Business Bank provided Close Brothers Property Finance with a £350 million ENABLE Build facility, which it said would support more than £700 million of lending to SME housebuilders.
Where does Close Brothers Property Finance lend?
It lends throughout England, Scotland and Wales.
This review is our independent summary of the lender's publicly stated lending, checked in October 2026. Criteria change, so confirm the current position before relying on it. Bridge & Build Finance is an independent broker and is not part of any lender reviewed. Finance is subject to status, valuation and lender approval.
