Over its lifetime, the investment — made on behalf of the Ministry of Housing, Communities and Local Government (MHCLG) — is expected to support over £700m of finance for new homes.

This is the second ENABLE transaction with Close Brothers, following an ENABLE Guarantee transaction with Close Brothers Asset Finance in August 2025.

In the past year the British Business Bank has made similar ENABLE Build transactions with firms such as Shawbrook Bank and United Trust Bank.

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“This agreement between the British Business Bank and Close Brothers marks a significant step in boosting housing supply and supporting housebuilders across the UK,” said chancellor Rachel Reeves.

“We are committed to get Britain building again, with a target of building 1.5 million homes over the course of parliament — and this partnership shows how we are turning that ambition into action.”

Phil Hooper, CEO at Close Brothers Property Finance, added: “We are delighted to deepen our partnership with the British Business Bank through this ENABLE Build transaction.

“This agreement significantly enhances our ability to provide the funding these developers need to bring forward much-needed homes, strengthen local communities, and drive economic growth.

“We are proud to play our part in unlocking housing supply and helping to deliver on the government’s ambition to build more homes across the country.”