UK housebuilder Hill has boosted its financial power by securing a £200 million five-year credit facility with the Royal Bank of Scotland.

The company said the deal will help it continue its growth plans, as well as supporting objectives of growing both its partnership and long-term regeneration work.

Andy Hill, Chief Executive, said: "Since founding the company almost 20 years ago, we have made significant strides and are proud to have established ourselves as a major player in the UK housebuilding sector.

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"Both 2016 and 2017 were landmark years for our corporate development and this new financing facility gives us headroom to further invest in new opportunities, with a particular focus on Joint Ventures and Regeneration.

"This commitment from four major high street lenders is a sign of the confidence that the banks have in our ability to build on our current success and to continue to deliver outstanding results over the next five years.

"To enable us to scale up, we'll be recruiting an additional 20% more staff this year as we seek to bolster our skills internally and deliver more distinctive, quality homes across London and the South East."

(LM/MH)