This will allow the 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 planning consent already in place.

This deal was introduced and brokered by Mark Nixon, managing director at Finance 55.

"Having supported the first phase of this site, we were already familiar with the location, the borrower and the professional team involved,” said Russell Higgins, lending manager at HTB (pictured above).

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“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.

"It’s a pleasure to support a long-standing client on the next phase of this much needed development,” said Mark.

“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."