Waytt Homes has received a GBP45 million (US$58.8 million) joint funding from Homes England and banking giant HSBC to build 1,000 homes across Dorset, Hampshire and Somerset in the UK during the next 5 years.

Under the deal, Homes England will contribute GBP15 million (US$19.66 million) in a 5-year junior loan ‘mezzanine’ facility, which will sit behind a longer-term GBP30 million (US$39.32 million) facility from HSBC. Around 3 in 10 of the homes built will be for affordable tenures.