This RCF, specially tailored to Fernham Homes, will be used to fund the delivery of over 400 homes in Kent.

It has been structured to provide a capital buffer in the event of unforeseen delays, allowing the developer to acquire new sites if possible.

Fernham Homes has already commenced work at Sutton Valence, Faversham, and Blean to build out under the new facility and plans to start work at Yalding, Sandwich, and Wrotham in 2026, which will finance the private homes within each scheme.

Paul Radley, senior BDM, and Chiara Caldwell, managing director of structured finance at Close Brothers worked with the lender’s credit and underwriting team to curate this facility.

This is the first multi-site RCF offered by the bank.

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“For the past 50 years, we have always worked to create bespoke solutions for our borrowers, and this revolving facility is a natural evolution of the decade-long partnership between Close Brothers and Fernham Homes,” said Phil Hooper, CEO at Close Brothers Property Finance (pictured above).

“It has been carefully tailored to provide them with the flexibility to accelerate their pipeline and continue building the high-quality homes for which they are renowned.

“In what is undoubtedly a challenging market, we are proud to support the long-term strategic growth of our clients.”

Fernham Homes has been a borrower of Close Brothers for over a decade, with the lender financing nearly 240 homes since 2015.

Sean Ellis, managing director at Fernham Homes, added: “We’re thrilled Close Brothers have chosen to pioneer this new RCF with Fernham Homes.

“It is recognition of our growth trajectory and potential of the business.”