The finance package sees Homes England and HSBC UK working in partnership to provide funding that will enable housebuilder Wyatt Homes to “accelerate delivery of over 1,000 new family homes across multiple sites”.

Of the 1,000 new homes being built, approximately 30% will be affordable, with the aim of addressing the lack of affordable properties across Dorset, Hampshire and Somerset.

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.”

Hadyn Beazer, Finance Director at Wyatt Homes, commented: “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, said: “Wyatt Homes is an established South West 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.”