HTB completes £13.68m development facility for West Yorkshire housing scheme

• £13.68m development facility secured for Phase 2 of a residential scheme in West Yorkshire
• 52 energy efficient new homes for local families and first time buyers
• A new partnership with Vivly Living, introduced by Ice Cubed Property Finance

The funding has been provided to Vivly Living, a Huddersfield based housebuilder delivering energy efficient homes across the region. It will support the construction of 52 new build homes aimed at local families and first time buyers. All homes will be delivered on a freehold basis and are forecast to achieve EPC A ratings, reflecting the growing demand for energy efficient housing.

The scheme benefits from full planning consent and will be delivered for private sale. The funding supports the second phase of a wider residential development, building on the successful delivery of 31 homes already completed on the site.

This deal followed a change in funding arrangements and required a structure and level of leverage outside standard lending parameters. We were able to take a considered view on leverage and risk, structuring a solution that aligned with the scheme’s delivery profile and gave the certainty and confidence needed to move the project forward.

The transaction reflects our strong regional focus, understanding of local markets, and ability to support experienced SME developers where funding requirements fall outside the appetite of mainstream lenders.
The deal marks a new relationship between us and Vivly Living, while also strengthening our relationship with Ice Cubed Property Finance, who introduced the case. It was led by Lending Director Harry Bhogal, supported by Josh Swaby, Business Development Manager for the North and Midlands, and Joseph Gibson, Relationship Manager.

Harry Bhogal, Lending Director at HTB, said:

This was a strong Phase 2 scheme with clear fundamentals, but it required a lender willing to take a considered view on leverage and delivery. Our focus was on providing certainty and clarity from the outset, so the client could progress with confidence. It’s exactly the type of regional development we’re set up to support.

George Butterfield, Director at Vivly Living, added:

We are delighted to be working with HTB on this project. They took the time to understand the scheme and our objectives, plus they gave us confidence that they could deliver. Their clear communication and pragmatic approach allowed us to move forward in a speedy manner, knowing that the funding was properly aligned with the project. We are now on site and working towards our new Show Home launch in March, and bringing much needed A-rated energy efficient homes to the village of Shepley.

 

Tom Frank, Managing Director of Ice Cubed Property Finance, said:

This was a well-prepared Phase 2 development that required a lender able to look beyond standard lending parameters. HTB’s understanding of the local market, combined with their flexibility around structure and leverage, made them the right fit for the client and ensured the project could move forward with confidence.