GIC Capital, which provides financial support for property development, is lending its support to builders calling for a licensing scheme that will put an end to cowboy builders. A recent survey found that professionals in the industry overwhelmingly backed the introduction of a scheme to improve the trade’s reputation and give customers peace of mind.
The survey, conducted by the Federation of Master Builders (FMB), discovered that almost eight in ten builders were in favour of further regulation within construction in order to put an end to so-called cowboy builders. The independent membership organisation put forward the idea of a licensing scheme in construction that would set minimum standards, noting that anyone can sell building services in the UK without demonstrating the competence, skill level, or professionalism. As a credit provider to property developers, it’s an issue that GIC Capital supports.
Kennedy Zvenyika, Managing Director of GIC Capital, said:
“Cowboy builders have a hugely negative effect on the whole industry, both when working on long-term expansive projects and when completing small jobs for homeowners. They can leave customers out of pocket, untrusting, and not sure of where they can turn to for support. It’s time that action was taken to eliminate rouge builders that are tarnishing the industry.
“The Federation of Master Builders’ suggestion would give peace of mind that professionals are handling the work of each project. It could also pave the way for a better structure when things do go wrong. It’s a win-win solution for both builders and customers.”
GIC Capital works with a wide range of businesses to provide finance, including delivering the funding needed for development projects. Funding up to 100% of land and development costs, the alternative lender gives experienced developers a way to rapidly expand their portfolio while still turning over lucrative profits.
“As a business that actively invests in building work taking place across the UK, supporting the calls for a builder licensing scheme that can put an end to cowboy builders is an easy decision.”