House by Urban Splash secures Lloyds bank support on new homes in Merseyside
As it continues its work creating more new homes using Modern Methods of Construction, the modern housebuilder House by Urban Splash, working in joint venture partnership with Peel L&P, has secured the support of Lloyds Bank on its newest neighbourhood in Merseyside.
Signalling its support for sustainable new projects, Lloyds has agreed to provide an initial £5million green development loan to support the delivery of 30 modular homes within the JV’s East Float quarter – part of the Northbank neighbourhood at Wirral Waters.
Following the success of its £1bn Green Lending Initiative, Lloyds Bank has broadened the discounted loan products available to Commercial Banking clients from £3bn to £5bn, including new propositions such as green development loans. The bank intends to provide further funding to support the remaining homes being developed as part of Wirral Waters.
Lloyds has a longstanding relationship with the Urban Splash family of businesses, including its recent support at the company’s Park Hill in Sheffield. Ben Thatcher is head of finance at Urban Splash and said: “This funding represents yet another positive step forward for East Float, which will bring hundreds of new design-led homes to Birkenhead.
“Our distinctive homes are as ambitious in terms of sustainability as they are in design, with offsite modular construction ensuring we’re able to minimise their environmental impact and promote green, waterside living. We are delighted to secure the ongoing support of Lloyds Bank; the institution’s ability to incentivise sustainable development made it the ideal funding partner for East Float and we look forward to its support as we move to ensure the neighbourhood’s swift delivery.”