Pluto Finance has completed a £15.4 million loan to Backhouse Housing for Phase 2 of its new build development in Highworth, Wiltshire.

This phase of the project will deliver 40 open market houses and 13 affordable homes.

The deal includes a peak debt facility of £8.4 million, enabling Backhouse Housing to maximise leverage while meeting the specific needs of the project.

Legal support was provided by law firm Brecher.

Jonathan Scott, lending director for the South West & Wales at Pluto Finance, said: “We are proud to support Backhouse Housing in delivering much-needed homes in Highworth.

“This project is an important step in addressing the growing demand for high-quality housing in Wiltshire and Swindon. By providing flexible financing, we’re enabling the development of both open market and affordable homes, ensuring the local community benefits from sustainable growth and improved housing options.

“Partnering with developers like Backhouse Housing, who are dedicated to providing affordable housing alongside high-quality design, aligns perfectly with our values as a lender and our mission to address housing challenges across the UK.”