This refinancing package will be used to support Allison Homes’s expansion across the East of England, the Midlands and South West.

The capital will be provided by the Home Building Fund, which was designed to support SME housebuilders to overcome funding barriers in order to build homes more quickly.

The objective of the transaction is to increase delivery of homes in the regions from a current 700 a year to 2000 over the term of the loan.

“Small and medium housebuilders play a vital role in building a diverse and resilient housing sector,” said Simon Century, CIO at Homes England.

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“Funding from Homes England will enable Allison Homes to expand its regional delivery, supporting the construction of more high quality, affordable homes.

“This financing deal is a prime example of how the agency works collaboratively with both public and private partners to achieve our mission of building thriving communities that people can be proud to call home.”

Ian Trinder, CFO at Allison Homes, added: “Regional homebuilders, like Allison Homes, play a crucial role in delivering the housing needed to meet local and national demand, while also investing in infrastructure, creating jobs and supporting the local economy.

“Importantly, this financial package means we can continue our ambitious growth trajectory, whilst focusing on what matters most — building high-quality homes, creating places people are proud to live in, and being the homebuilder that people can trust.”