The loan will be used to support phase two of the scheme at Knowle Grange which is being delivered by Huddersfield-based housebuilder Vivly Living.

Phase two comprises the construction of 52 new build homes targeting local families and first-time buyers. These properties already have fully planning consent and will be delivered for private sale.

All are designed for energy efficient construction, with EPC A ratings being targeted.

The facility follows a change in funding arrangements and required a structure and level of leverage that fell outside standard lending parameters. HTB structured a solution aligned to the scheme’s delivery profile, taking a considered view on leverage and risk to do so.

This is the first transaction between HTB and Vivly Living and was introduced by Ice Cubed Property Finance.

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“This was a strong Phase 2 scheme with clear fundamentals, but it required a lender willing to take a considered view on leverage and delivery,” said Harry Bhogal, lending director at HTB who led the deal.

“Our focus was on providing certainty and clarity from the outset, so the client could progress with confidence. It’s exactly the type of regional development we’re set up to support.”

Harry was supported on the deal by business development manager for the North and Midlands Josh Swaby and relationship manager Joseph Gibson.

George Butterfield, director at Vivly Living, added: “[HTB] took the time to understand the scheme and our objectives, plus they gave us confidence that they could deliver.

“Their clear communication and pragmatic approach allowed us to move forward in a speedy manner, knowing that the funding was properly aligned with the project.

“We are now on site and working towards our new Show Home launch in March, and bringing much needed A-rated energy efficient homes to the village of Shepley.”