Homebuilder Allison Homes has completed a £165m finance facility to support its continued expansion across the East of England, the Midlands and South-west.

The refinancing package has been agreed with three major funding partners – HSBC, NatWest and Homes England, the government’s housing and regeneration agency.

This marks a significant milestone in the company’s growth strategy, enabling it to accelerate land acquisition and development and increase the supply of affordable, high-quality homes across its regions.

Ian Trinder, chief financial officer of Allison Homes, said: “This is a very exciting moment for our business as it shows real confidence from strong funding partners in our long-term growth plans. 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.”

Over the past year, the firm has taken steps to strengthen the business for the long term – investing heavily in land, regional growth, operational infrastructure, systems and people. 

Trinder added: “Delivering this during a challenging economic period has been no small task, and we’re incredibly proud of what we’ve achieved to date. The country continues to face a significant housing shortfall, and our sector has an important responsibility to help address it.”

HSBC and NatWest have worked with Allison Homes for a number of years, and Homes England is joining alongside the existing lenders to provide further growth capital for the business as it enters a new period of growth, supported by a strong pipeline of consented sites.

Financing will be provided by the Home Building Fund, which is designed to support SME housebuilders to overcome funding barriers to build homes more quickly. It will help Allison Homes accelerate towards building 2,000 homes annually, capitalising on improving interest rates.

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

The homebuilder has also recently opened offices in Bristol and the East Midlands and acquired its largest site yet – a 510-home development in a prime Bristol location.