1,000 new homes to be built through funding partnership

A new finance package will allow SME housebuilder, Wyatt Homes, to build affordable homes in the South West.

Hundreds of families across Dorset, Hampshire and Somerset will be moving into brand new homes in the next five years thanks to a multi-million-pound finance package from the Government’s Levelling up Home Building Fund and HSBC UK.

The finance package sees Homes England and HSBC working in partnership to provide funding that will enable Wyatt Homes to deliver 1,000 new family homes across various sites.

Out of the 1,000 new builds, around 30% are expected to be affordable, with the aim of addressing a lack of affordable properties across Dorset, Hampshire and Somerset.

Hadyn Beazer, Finance Director at Wyatt Homes, said: ‘Getting the right level of funding has been challenging for SMEs in recent years. We have built up a strong land bank over the last 15 years, so securing this funding package is a key milestone in meeting the growth aspirations we want to achieve at Wyatt Homes. We look forward to working with both HSBC UK and Homes England to unlock our exciting pipeline projects and then deliver great homes over the next five years.’

Hugh Taylor, Head of Housing at HSBC UK, commented: ‘Wyatt Homes is an established Southwest house builder with a reputation for delivering quality homes. The business has ambitious growth plans underpinned by a significant land bank. We are also delighted to work in collaboration with Homes England, putting in place a funding package to support the planned growth and accelerate the delivery of new homes in the region. We are pleased to welcome Wyatt Homes as a new HSBC UK customer.’

Neil Elliott, Head of Structured Real Estate Finance at Homes England, added: ‘We are excited to be working in partnership with HSBC UK and Wyatt Homes. Our Mezzanine funding further demonstrates our commitment to support SME housebuilders and to working with one of the UK’s largest banks to deliver much-needed new homes.’

Photo by James Feaver