SECTION 106 Bonds
Bonds that secure the performance of a developer's contributions towards community infrastructure and affordable housing in line with planning permission granted.
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Section 106 bonds are required by local planning authorities and are often conditional to projects being granted planning permission. These agreements ensure that the overall impact of a development on the local area is measured and mitigated through the inclusion of affordable housing and positive contributions to the community infrastructure.
The bond typically covers obligations that must be fulfiled during construction and after completion of the project.
At LBB, we support our developer and housebuilder clients through Section 106 requirements, helping to navigate the administration, costs and terms available for these bonds.
Our team has a wealth of experience from various backgrounds in construction and development, and we pride ourselves on our exceptional client service standards.
