Baxter Homes: Supporting vital SME housebuilders in the North West of England

The Challenge

Founded in 2004 by Ian Baxter, Baxter Homes has been building homes for over 15 years, completing projects across the Fylde Coast, Elswick, Great Eccleston and Garstang. With the reduction of finance options for vital SME housebuilders having been amplified by the COVID-19 pandemic as many other banks retrench from the market, Baxter Homes required an experienced lender who not only showed the willingness to lend, but also had the required level of regional knowledge to support its latest project in Lancashire.

 

Opportunity & Outcomes

We supported Baxter Homes by providing them with a £5.5M loan to support multiple phases of its Oak Hill Rise project, including the development of five three-bedroom, 12 four-bedroom and two five-bedroom detached homes. Impressed with our overall lending approach, Ian Baxter, Founder of Baxter Homes, said, “2021 has been incredibly challenging for the industry, with many construction sites closing or operating at limited capacity, which only puts more pressure on SME housebuilders like us. This is why we were grateful to have OakNorth Bank’s support. They’ve worked with some of the largest and most-established housebuilders in the country, as well as numerous SME housebuilders, so know the industry well and have been able to share some of the best practice they’ve seen over the last year. The team’s knowledge and expertise of the local residential sector was very apparent throughout the entire funding process, allowing us time to concentrate on ensuring our philosophy towards our work was kept.”

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