The loans will fund the development of 124 new homes in Dover, Wandsworth, Wimbledon and Tottenham — delivered by four SME developers. 

The first loan will fund the development of 27 homes — six of which will be affordable — in Nonington, Dover.

The development will regenerate a site which was previously a former factory and storage yard.

In line with the alliance initiative, the homes will be designed to have minimal environmental impact. 

No fossil fuels will be used to power the completed homes, they will instead be heated by air source heat pumps. 

In Wandsworth, London, the alliance is supporting the development of eight residential apartments. 

As part of a conversion scheme, the development will regenerate a disused building into energy-efficient homes.

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As an existing asset is being regenerated, the development significantly reduces new carbon emissions being expended throughout the build. 

The third loan will fund the development of seven residential apartments in Wimbledon, London, equipped with solar PV panels and air source heat pumps to achieve EPC A ratings on all units. 

Through partnering with a local developer, the loan will facilitate the regeneration of a previously vacant café building. 

The final loan will support the largest Greener Homes Alliance deal to date — the building of 76 residential apartments and two commercial units in Tottenham, London. 

Nick White, head of development origination at Octopus Real Estate, said: “We are extremely proud of the impact our Greener Home Alliance initiative is having on supporting developers looking to make greener decisions for their projects.

“Our partnership with Homes England has delivered amazing homes, meeting the highest environmental standards while having a lasting positive impact on local communities.”