Lloyds builds Scotia Homes relationship in bank deal

SCOTIA Homes, the Ellon-based housebuilder, yesterday unveiled a new financing deal with Lloyds Bank Corporate Markets to run until April 2014.

The construction firm hailed a "degree of stability" in the housing market in Aberdeenshire and the North-east, although it admitted "market conditions remain challenging".

Scotia is developing sites at Aberdeen, Inverbervie, Muir of Ord and Peterhead, as well as selling houses at Ellon and Insch.

Forthcoming developments include Bridge of Don and Cove.

Managing director Martin Bruce said: "Scotia has developed an excellent relationship with the team at Lloyds Bank Corporate Markets and, before that, at Bank of Scotland over the past 20 years and we are looking forward to continuing this successful partnership."

Lloyd's Steve Rae added: "The management team at Scotia has carefully navigated the ongoing economic conditions, continuing to operate profitably in what have been very tough times."