The new loan facility is aimed to enable the homebuilder to expand its landbank to deliver over 1,250 homes each year. while aligning with its long-term sustainability targets and reinforcing the developer’s commitment to reduce its carbon impact.

Specifically, the funding will support Tilia Homes’ pledge over the next five years to further reduce the operational emissions in its homes by more than 70%, lower the total tonnage of construction waste (per 100m2 built) by more than 30% and double the number of employees on training courses with an external qualification.

Commenting on the agreement, Philip Chapman, COO at Tilia Homes, said: “This is a fantastic achievement and a proud and exciting milestone for Tilia Homes.

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Land remains the lifeblood of our business and this agreement with HSBC UK and Homes England will allow us to significantly enhance our already active land acquisition programme with greater focus, enabling our teams to continue to secure the right development opportunities in the right locations.

“This deal builds on the continued support of our committed shareholder and offers further stability and financial firepower.

“We strongly believe that sustainability is not just a goal, but a necessity and we are embarking on a journey towards operational net zero, going beyond what is required by regulation.

“This funding agreement reinforces our commitment to put both people and the planet at the heart of our development and we are delighted to have the confidence of HSBC UK and Homes England as we continue on our sustainability journey.”

 Marcus Ralling, chief investment officer at Homes England, said: “This is a great example of how Homes England and the sector can work together to boost the delivery of affordable, quality homes that people want and need.

“Our resources are here to help support a diverse market where home builders of all sizes, including SMEs, can deliver for communities.”