Lucid Finance is leading an “ecosystem” of funders who are looking to help floundering projects.

The financiers are focusing on social housing and residential schemes for key workers rather than luxury apartment complexes.

Lucid’s Alister Betts said: “We are looking to help with projects that have planning but are struggling with equity or cash flow.

“We want to get projects funded and there is a lot of backing available for the right schemes.

“We have sensibly priced funding available and want to work with developers looking to make sensible returns.”

The Lucid team works with trusted contractors on schemes it invests in and is looking to place funds now.

Betts said: “We are not a brokerage. We have a collection of funders ready to invest now and start helping the construction industry get building again.”