Taylor Wimpey is in the final stages of discussions to restructure its £1.55bn debt pile, which would see creditors accept warrants entitling them to less than 10 per cent of the company.

The housebuilder is expected to seal an agreement with its banking syndicate and holders of its private placement bonds in time to seek the approval of other bondholders, who hold about £450m of its debt, by March 10.