Homes England announces multimillion-pound debt facility with land promoter through new National Housing Bank

Homes England said the facility is expected to accelerate the delivery of consented land, equating to over 26,000 homes by 2030, with a gross development value of over £8bn.

Richborough identifies land with potential for development, secures planning permission and then sells consented sites on the open market.

The land promoter plans to submit more than 30 applications for schemes in 2026, totalling around 12,500 new homes.

Last year, Richborough submitted applications for around 9,000 homes and completed sales to house builders including Barratt Redrow and Taylor Wimpey, as well as housing association Bromford.

Homes England said the investment will grow the supply of consented land for housing associations, major house builders and SMEs.

Simon Century, chief executive officer of the National Housing Bank, said: “Homes England works with partners who share our ambition to accelerate the delivery of quality homes in the places they are needed most. 

“Our partnership with Richborough, supported through the National Housing Bank, demonstrates our commitment to enabling housing delivery where it can have the greatest impact.”

Paul Campbell, chief executive at Richborough, said that decision times for major planning applications are taking three times longer now than in 2015, and that “against this backdrop, flexible long-term capital is essential”.

“This facility gives us the confidence to invest earlier in more sites, maintain momentum through the planning process and bring forward high-quality, well-designed schemes that can be built quickly once consented,” he added.