This mirrors the bank’s recent expansion of its specialist BTL mortgage range, which now also has a top loan size of £25m.
Alex Upton, managing director of development finance at HTB, commented: “This is a significant decision by the bank and underlines our commitment to the developer community.
“It means we can further support regional developers with larger schemes, further cementing our commitment to SME housebuilders.
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“It also allows developers to have multiple projects with HTB at the same time, allowing us to become more aligned with their ambitious growth plans and creating further efficiency with more projects under a single lender.”
With the recent news that the construction industry has seen an overall downturn for the first time in 18 months, Alex sees the new increased loan size as a potential boost for developers, adding: “This positive move is another indicator of our significant appetite for new business from new and existing developer customers across all areas of England and Wales."
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