Aldermore has provided up to £13.5m in development funding to SB Homes for its Lingards Fold site in Slaithwaite, Colne Valley.
The facility will support a 42-home scheme and allow SB Homes to increase build speeds and develop multiple sites at once.
David Whitehouse, property development manager at Aldermore, said: “We’re delighted to be backing SB Homes and the company’s new housing development.
“Being based in the Colne Valley, SB Homes knows the area incredibly well and has built a strong track record in the development of new build homes in the area.
“We’re glad to be part of their journey as they grow their business to deliver even more first-class homes.”
Sophie Byram-Clifford, finance and operations director at SB Homes, said: “Taking on development funding is a major milestone for our business and it’s a very exciting time.
“It will allow us to build at a pace we’ve never experienced before. Working with Aldermore has been a great experience — their appetite to get the deal done and their one-to-one relationship approach really stood out.”
Lingards Fold includes three, four, and five-bedroom detached homes, three and four-bedroom semi-detached and terraced homes, and eight affordable one-bedroom and two-bedroom apartments.
The deal was introduced by property consultant Stewart Brown, who worked with Byram-Clifford to secure the funding.
Whitehouse led on the deal for Aldermore.
Stewart Brown, of Property Asset Consulting, said: “It was a pleasure to bring SB Homes and Aldermore together to help make this deal a reality.
“SB Homes is an outstanding Kirklees house builder and it’s fantastic to see Aldermore supporting their business growth.”
