The bank funding will support the Sutton Coldfield-based developer’s creation of two National House Building Council-registered neighbourhoods in Rowley Regis and Tipton, which have a combined gross development value of £9.5m.

The 36-home development in Rowley Regis has been completed and offers a selection of two- and three-bedroom homes.

The development in Tipton got underway earlier this year and once completed will comprise 14 four-bedroom homes.

“IP Developments is leading the way when it comes to providing affordable quality homes built for local people,” said Nick Hill, relationship manager at NatWest.

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“We look forward to working with the business to help them continue to grow.”

IP Developments was founded by Dave Pearson and Dave Irons in 2004 and has an annual turnover of £5m.

The developer employs local people and contractors across all its developments and hopes to grow its workforce by 30% following these project approvals.

“Our goal as a company was to become a well-known local developer, building well-designed homes which are environmentally up to date,” said Dave Pearson, director at IP Developments.

“These two developments will add to our growing portfolio of new homes, and thanks to the financial support from NatWest we will be able to create even more local jobs.”