Zenzic Development Finance has lent c. £13m of development finance to fund the construction of 50 residential open market properties across three separate UK schemes. 

The three projects, two of which are with existing SME housebuilder clients of ZDF, have a total GDV of over £17m and are located across the UK, with 41 new detached and semi-detached homes in Stalmine, Lancashire, funded via an c. £8m dual-tranche loan incorporating stretch senior and mezzanine facilities; construction of six homes for sale in Belchamp St. Paul in Essex, and the development of three five-bedroom houses in Bestwood Village, Nottinghamshire.

Simon Brown, head of lending at Zenzic Development Finance, said: “With the demand for housing outstripping supply across the UK, the development of new homes is vital. The majority of these latest transactions come from repeat borrowers and this is testament to the quality of our product, our speed of delivery and the deep client relationships our team has established. 

“These latest loans build on the positive momentum following our announcement in May that we have secured a new funding line with Cynergy Bank, which enables us to accelerate our lending volumes and tap into the wall of demand from SME housebuilders for financing, particularly at higher LTVs where the impact of the retrenchment of traditional high street banks is most acute.”