HTB Partners With Homes By Honey To Unlock Multi-Site Growth With £25m Facility
13 February 2025
Hampshire Trust Bank (HTB) has structured a £25m multi-site revolving facility to fuel the expansion of Homes by Honey, a fast-growing housebuilder led by the team behind Avant Homes.
This strategic funding enables Homes by Honey to scale efficiently across multiple sites, reinforcing its rapid rise in the UK housing market. This bespoke funding solution provides the flexibility to deploy capital across multiple developments, optimising cash flow, accelerating project delivery, and supporting long-term growth.
Launched in 2023, Homes by Honey has quickly emerged as a serious force in UK housebuilding, leveraging its leadership’s proven track record to drive sustained growth. The facility’s flexible structure enables Homes by Honey to fund multiple sites simultaneously while efficiently recycling sales proceeds to reinvest in future phases.
This revolving credit model strengthens financial resilience, reducing reliance on additional capital injections and ensuring consistent development momentum.
Neil Leitch, Managing Director of Development Finance at HTB, underscored the strategic significance of this facility:
“Development finance must evolve with the ambitions of modern housebuilders. Homes by Honey required a funding model that could scale across multiple sites, and we delivered a solution that does exactly that. Speed and certainty were critical - our approach ensures efficient capital deployment, financial oversight, and the flexibility to drive growth at pace.
“It was important for Homes by Honey to have access to a facility that could support multiple sites at different stages, and we structured a funding model that gives them the flexibility to scale without delay. The ability to move quickly was key - ensuring certainty, efficiency, and the right level of financial oversight from day one."
The facility is already being deployed across key developments, ensuring efficient capital utilisation across multiple sites. In Doncaster, HTB is financing the £43.1m Bessacarr scheme, set to deliver 184 homes. Additionally, in Witham-St-Highs, Lincolnshire, the first phase of a £17.3m development will see the delivery of 63 homes. By enabling sales proceeds to be reinvested, HTB’s approach ensures that liquidity remains active, allowing developments to progress seamlessly.
Harry Bhogal, Lending Director at HTB, highlighted the bank’s ability to tailor solutions for developers:
“This facility demonstrates how HTB works in partnership with developers to deliver funding solutions that fit their ambitions. Homes by Honey wanted a model that would enable them to move at speed while maintaining financial control - we structured exactly that. Our expertise in flexible lending means we can support more developers in achieving sustained, scalable growth - it was about structuring a facility that truly worked for Homes by Honey.
“By designing a revolving credit facility, we enabled them to manage multiple developments efficiently while maintaining control over cash flow. It’s an approach we can replicate for other developers looking to scale with agility and confidence."
Approved in 2024, the facility is now moving into its first deployments, with HTB working closely alongside Homes by Honey to ensure seamless execution and sustained growth. This partnership reflects HTB’s dedication to delivering funding structures that evolve with developers’ needs. By providing tailored, scalable solutions, HTB empowers ambitious housebuilders with the financial agility to expand with confidence.
Jeremy Gledhill, Chief Financial Officer at Homes by Honey, commented:
"HTB’s partnership has been integral to our expansion, providing the financial agility needed to keep pace with our ambitious growth plans. Their deep understanding of our business has ensured capital deployment is efficient, allowing us to maintain momentum across multiple developments. With this facility in place, we are well-positioned to continue delivering high-quality homes at scale. Their flexible approach and deep understanding of our ambitions have allowed us to deploy capital efficiently and keep our developments moving at pace. We can continue to deliver high-quality homes at scale, confident in the financial backing that supports our vision."
