Atom bank has launched a ‘Natural Capital’ lending proposition which will support development of new housing and infrastructure across the UK.

This follows a successful initial rollout, where Atom bank provided secured funding for the creation of three Biodiversity Net Gain (BNG) habitat banks.

Across the three sites, 480 BNG units were created and registered with Natural England, which is enough to deliver the biodiversity net gain required for around 2,410 new homes.

The sites include a 21-hectare site in Boxworth, Cambridgeshire, a 40-hectare site in Aldwincle, North Northamptonshire and a 20-hectare site in Stockbridge, Hampshire.

Natural capital loans are available for the purchase or refinance of land in England with the intention of creating BNG units, and are available to LLPs or limited companies only.

Loans are available between £100,000 and £2 million and up to a maximum of 65% LTV against the original land value.

Atom bank director of ESG Edward Twiddy says: “Supporting the creation of BNG habitat banks is essential for the future of the housing sector. These projects will help unlock new homes as the Government seeks to hit its ambitious housing and infrastructure targets.”

“Atom bank is already innovating in this new market, deploying the flexibility and creativity for which we have become known in the commercial mortgage space. Now we are launching this proposition to a wider market and welcoming more applications. “