The government housing agency Homes England has provided a £7 million development loan from its Home Building Fund to the SME housebuilder Forge New Homes, enabling delivery of a new scheme of 58 homes at the “Welbeck Gardens” site in Bolsover, Derbyshire. The scheme is designed to deliver a mix of three- and four-bedroom homes, with a dedicated portion of these allocated as affordable homes to ensure greater access for local buyers. The development places a strong emphasis on creating a welcoming, family-friendly neighbourhood environment. Generous green open spaces and easy access to everyday amenities such as shops, cafés, and schools have all been incorporated into the site design.
Neil details of the Home Building Fund show that Homes England’s lending programme is specifically tailored to support small and medium-sized housebuilders who may face obstacles in securing traditional development finance. The Fund offers development loans ranging from around £250,000 to over £10 million and covers schemes from as few as five homes to much larger sites.
Speaking about the arrangement, Simon Century, Chief Investment Officer at Homes England, said:
“Small and medium-sized housebuilders are essential to building the diverse and resilient housing sector the country needs.” He described the Welbeck Gardens project as “a prime example of how we are working with partners like Forge New Homes to support the SME housebuilders that are crucial to building a diverse and resilient housing sector.”
From the builder’s side, Andy Beattie, Managing Director of Forge New Homes, emphasised the partnership’s significance:
“Our aim has always been to deliver new homes that are both attainable and affordable for local people. This partnership with Homes England is a significant step forward, and we’re grateful for their support in helping us make these much-needed homes a reality.”
This arrangement underlines several key points for the housing sector:
- It highlights Homes England’s continuing commitment to supporting SME housebuilders—an increasingly important part of the new-homes delivery chain.
- By focusing on smaller regional developers rather than only large volume builders, the Fund helps diversify the market, potentially boosting regional economic activity and supply chain resilience.
- Delivering homes in established communities with local amenities, green spaces and schools helps create more sustainable, family-friendly neighbourhoods—not just housing units.
- The inclusion of affordable homes within a predominantly three- and four-bedroom development supports policy goals around mixed-tenure neighbourhoods and greater accessibility for local buyers.
Project highlights
- Location: Welbeck Gardens, Bolsover, Derbyshire, England.
- Number of homes: 58 new homes.
- Home types: Mix of 3-bedroom and 4-bedroom houses, including a number of affordable homes.
- Site design: Generous green open spaces and proximity to local amenities (shops, cafés, schools).
- Funding: £7 million loan via the Home Building Fund by Homes England.
- Target market: Families and local people seeking attainable, quality new homes in a supportive neighbourhood.
The Home Building Fund plays a crucial role in the housing delivery ecosystem. Its guidance emphasises that it supports developers who might otherwise struggle to access conventional funding, particularly SMEs. Eligible developments must typically be in England, the applicant must have control of the land, planning permission in place and be building five or more homes.
Recent announcements show that Homes England is expanding its finance partnership activity (for example, with loan syndicates and lending alliances) to further support smaller builders and innovation in construction methods. For SME developers constrained by traditional finance channels, funding from Homes England can help unlock stalled projects, enable earlier starts on site, and support scale-up—ultimately contributing to national housing supply targets.
With Welbeck Gardens now supported, Forge New Homes can move forward with confidence on site preparation, construction programming and marketing of the homes. The focus on quality design, family-friendly amenities and affordable provision means the development should appeal to a broad local market.
From a strategic perspective, the scheme reinforces the value of targeted public-sector support for smaller housebuilders operating in local markets. As Homes England continues to roll out finance products through the Home Building Fund and related initiatives, more SME-led developments may follow, helping to address supply bottlenecks and deliver homes in a wider geography.
For stakeholders involved in housing delivery—developers, funders, local authorities and planners—this case provides a useful reference point for how public finance mechanisms can be combined with private-sector delivery to achieve integrated housing outcomes.
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