The facility will finance the creation of 34 homes — 12 of which will be affordable — at Lunesdale Rise.

The scheme, which is an extension of the previous phase Oakfield Park, will feature green homes built with locally sourced material and other sustainable features including PV panels, a source control sustainable drainage system, public open space, and landscaped gardens.

The loan was brokered by Nick Holding Parsons at Lexi Finance.

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Jenna Hollins, investment manager at Octopus Real Estate, commented: "At Octopus Real Estate, we are committed to supporting developers who strive to deliver best-in-class new homes that are clean, green, and meet local demand.

“This project is a great demonstration of our shared commitment to building more sustainable communities.”

John Blue, sales and land director at Genesis Homes, added: "We’re delighted to be bringing our new homes to the prestigious town of Kirkby Lonsdale, which have received an unprecedented level of interest prior to launch.

“Working with Octopus Real Estate provides us with the opportunity to meet the high demand in this area, and we’re excited to showcase the high specification and considered designs of our homes in the coming weeks.”