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Thu June 24 2021

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Weston Homes secures backing

20 Jun 16 Developer Weston Homes has secured an £80m improvement to its bank funding facility.

Bob Weston
Bob Weston

Weston Homes has renegotiated terms with HSBC, Lloyds Banking Group and Bank of Ireland and now has a £200m facility running to 2020.

Chairman Bob Weston said: “Between them the three banks have committed £160m of funding to Weston Homes, with a £40m accordion in place, increasing our facility to £200m. This investment provides substantial funds for further site acquisitions and new developments.”

He added: “As we evolve as a volume housebuilder our strategy is to focus on outer London and the Home Counties and avoid overpriced sites in the heart of London. There remains a huge demand and undersupply of value-for-money starter and family homes across southern England and so this is where we focus our product and sales.”

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