Home Somerset business 1,000 new homes will be built thanks to a financing partnership with HSBC

1,000 new homes will be built thanks to a financing partnership with HSBC

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Hundreds of families in Dorset, Hampshire and Somerset will move into brand new homes over the next five years thanks to a multi-million pound funding package from the government’s Leveling Up Home Building Fund and HSBC UK.

The financial package sees Homes England and HSBC UK working in partnership to provide financing that will enable Wyatt Homes to accelerate the delivery of over 1,000 new family homes across multiple sites.

Of the 1,000 new homes being built, around 30% will be affordable, in a bid to address the lack of affordable properties in Dorset, Hampshire and Somerset.

Neil Elliott, Head of Structured Property Finance at Homes England, added: “We are delighted to be working in partnership with HSBC UK and Wyatt Homes. Our Mezzanine financing once again demonstrates our commitment to supporting SME homebuilders and working with one of the UK’s largest banks to deliver much needed new homes.

Hadyn Beazer, CFO at Wyatt Homes, said, “Getting the right level of financing has been a challenge for SMEs in recent years. We have built a solid land bank over the past 15 years, so securing this funding is a key step in meeting the growth aspirations we want to achieve at Wyatt Homes. We look forward to working with HSBC UK and Homes England to unlock our exciting pipeline projects and then deliver stunning homes over the next five years.

Hugh Taylor, Head of Housing at HSBC UK, said: “Wyatt Homes is an established homebuilder in the South West with a reputation for quality homes. The company has ambitious growth plans supported by a significant land reserve. We are also delighted to be working in conjunction with Homes England, putting in place a financing plan to support the planned growth and accelerate the delivery of new homes in the area. We are delighted to welcome Wyatt Homes as a new customer of HSBC UK.

Wyatt Homes, headquartered in Poole, is a well-established traditional homebuilder, with a track record of delivering award-winning homes in the South West for over 30 years.