The 68% LTGDV facility was agreed over a 24-month term, with additional gearing provided by junior debt funder The Mezz Lender.

The £13.6m development sits on a seven-acre greenfield site near Gainsborough, and once completed will comprise a mix of two, three, and four detached and semi-detached homes and three-bedroom bungalows.

Facility exit will be through sale of the units.

Huw Jenkins, senior director of property development at UTB, said he was “delighted” at the opportunity to work with Rippon Homes in Lea.

He said: “Rippon Homes has been on our radar for some time because of their excellent reputation for delivering great quality homes.

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“UTB is committed to supporting experienced housebuilders and developers through the ups and downs of the economic cycle and is happy to consider working alongside mezzanine lenders to provide additional gearing.

“The fact that a third of the units are already reserved demonstrates the quality of Rippon Homes’ products and we look forward to working with them again on future schemes.”

Ian Dyke, managing director at Rippon Homes, added: “UTB have proved to be a trusted partner in the scheme to deliver much needed family and affordable homes in the area.

“We are grateful for the assistance and expertise Huw and his team at UTB were able to bring to the scheme."