HTB supports delivery of 21 new homes in the North East with £3.6m development facility

17 July 2025

Hampshire Trust Bank (HTB) has completed a £3.6m development finance facility to support the construction of 21 new homes in the North East.

The funding will enable an experienced developer to deliver the second phase of a residential scheme designed for first-time buyers, local owner-occupiers and second movers. The homes will be built on a freehold basis, with full planning consent in place. The deal was introduced and brokered by Mark Nixon at Finance 55, who continues to support the borrower with their ongoing funding requirements.

The facility follows HTB’s funding of the first phase, which has been successfully completed and sold, and is structured alongside an existing land loan that supports future phases of the site. As part of this transaction, HTB worked with the borrower to update the land valuation for remaining plots and ensure the facility remained within policy parameters, while providing the flexibility needed to move forward with construction.

Russell Higgins, lending manager at HTB, said:

"Having supported the first phase of this site, we were already familiar with the location, the borrower and the professional team involved. That background allowed us to structure this next facility efficiently and in a way that complemented the existing land funding. It is a good example of how continuity and experience can help move projects forward with confidence."

HTB has also approved funding for phase three, which will deliver another 23 homes on the site.

Mark Nixon, managing director at Finance 55, said:

"It’s a pleasure to support a long-standing client on the next phase of this much needed development. Working with HTB continues to be a positive experience - their team brings a consistent, pragmatic approach that helps get deals done efficiently and with confidence."

Neil Leitch, managing director of development finance at HTB, commented:

"Having supported the site from its early stages, we were already familiar with the planning structure, the delivery approach and the wider objectives behind the scheme. That understanding allowed us to provide a facility that complemented the land funding already in place and supported the borrower’s next phase of delivery.

“Our lending directors are based regionally, which gives us the local context we need to assess risk properly and structure funding that works in practice. It’s that combination of continuity and local insight that helped this project move forward, and we’re pleased to be supporting the next phase."

The deal was managed by Josh Swaby, Russell Higgins, Rob McFarlane, Giosue Vallelonga, John McDonnell and the bank’s CQA team.