Housebuilder Weston Homes has secured bank finance to build £1bn of new homes across London and the South-east

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Housebuilder Weston Homes has secured bank finance to build £1bn of new homes across London and the South-east of England.

The developer has been provided said it had been provided with a £100m extension to its existing funding facility, up to 2018, by HSBC and Lloyds

I said the agreement would enable the firm to build around 3,300 new homes over the next five years, with accompanying retail and leisure facilities.

Weston Homes said SME housebuilders have been starved of development finance throughout the recession, especially for development outside of London, but the new deal heralded “the start of banks unlocking major funds to help housebuilders build homes across Britain”.

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