We have recently provided a £975,000 development loan to fund two executive net zero carbon houses in Whittle le Woods, Lancashire for local developer Hodson Homes.
The funding package comprises of a development loan over a 15-month term at 63% LTGDV and will fund the build costs of one five bedroom and one four-bedroom eco home.
The two eco self-sustainable dwellings have been designed using natural and local materials that are sympathetic to the local environment, with a low carbon footprint and are capable of running off-grid.
Hodson Homes was established in 2020 specifically for the design and construction of eco-friendly self-sustainable homes.
Glen Hodson commented: “We are passionate about the ability to create homes that reduce the impact of carbon on the environment.
“Building and construction is currently responsible for 39% of carbon emissions worldwide with a further 16% carbon emissions coming from household consumption. It is possible, with new technology, to dramatically reduce these statistics. Our new homes have the potential to reduce construction carbon emissions to 12% and over the building’s lifespan, it will have a 0% negative impact to its environment in relation to carbon.
“We want to demonstrate that the entire construction industry has the ability to create the single biggest carbon emission reduction out of any other industry worldwide. We hope that these types of homes will inspire a change of trend in construction techniques and demonstrate that it’s possible for our industry to build better.”
David Rainford, managing director at PMJ Capital added: “It has been fantastic to be able to support Glen and the team at Hodson Homes on their first highly sustainable scheme.
“They are genuinely committed to making a difference and driving change in the industry. Their passion and enthusiasm were something we really bought into, and as independent lenders we are keen to support SME developers who are doing things a little differently.”
The properties are due to be completed in Aug 2024, one has already been sold with the other currently available sale with local agent Forbes Estate Agents.