A new housing development in Brentwood, Essex, has been given a cash injection from Secure Trust Bank Real Estate Finance to help get it off the ground.

The scheme, called Ashwells Court, in the village of Pilgrims Hatch, comprises five three and four bedroom homes and is being built by Rivoli Developments Limited.

Secure Trust Bank Real Estate Finance has provided a £1.9 million loan facility to Rivoli for the scheme.

David Burke, STB REF relationship director, facilitated the loan. He said: "Having completed the first phase of the scheme, comprising four homes, in October last year, Rivoli approached us for financial support to kick-start the second phase.

"Given the development's excellent location, adjacent to Bentley Golf Course, the quality of the homes being built and the experienced team at Rivoli, we had no issues in agreeing the loan."

John Little, director at Rivoli Developments, said: "Having the backing and support of an established lender such as Secure Trust Bank provided real peace of mind and gave us the confidence to push on with the second phase of the development.

"David and his team have been really supportive throughout the whole process, making it as pain free as possible, allowing us to focus on building the homes."

Are you an SME home builder looking for development funding? STB Real Estate Finance provides loans of £1m-£5m to help kick-start housing developments around the country.

Find out more about our range of real estate finance products.

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