Housebuilder Taylor Wimpey is to expand talks to other banks to secure a refinancing deal to allow it to grow in the current market

Publishing half-year results showing pre-tax profit of £19.6m on turnover up 8% to £1.2bn, the firm said it planned to widen its refinancing talks to “other lender groups” in the coming months.

Taylor Wimpey is widely viewed as the housebuilder with the most restrictions on its ability to invest in land and other assets because of the nature of its agreements with its main banking group.

It said that “while the group’s current debt facilities do not expire until July 2012, an earlier refinancing is preferable”.