Bovis Homes has secured a further £50 million of funding, bringing “additional financial flexibility” to the business. The housebuilder has agreed a £50 million extension to its £125 million committed revolving credit facility which was agreed in January, increasing the facility to £175 million. <br><br>The extension – agreed with existing syndicate banks – expires in December 2015, while the remaining £125 million expires in March 2017. With the £25 million three year term loan that Bovis also secured in January and these new arrangements, the housebuilder now has £200 million of credit facilities. <br><br>Bovis said that the added facility “gives the group improved financial flexibility to take advantage of opportunities in the consented and strategic land market”.