Funding for new homes
NORTH Hertfordshire Homes (NHH) has secured �50 million funding for its future development and improvement programmes from Santander Corporate banking. The additional funding was negotiated at very competitive rates and none of NHH s existing funding arra
NORTH Hertfordshire Homes (NHH) has secured �50 million funding for its future development and improvement programmes from Santander Corporate banking.
The additional funding was negotiated at very competitive rates and none of NHH's existing funding arrangements have been affected.
Paul Stevens, head of housing finance at Santander Corporate Banking said: "We are delighted to have established a new long term funding partnership with NHH, a very ambitious organisation with a track record for delivering quality housing and services to its customers.
"Santander Corporate Banking has been a consistent lender to housing associations for the past 20 years and we are proud of our market leading position and the contribution we make to improve the supply of affordable housing."
The additional funding will be used to build new homes and fund NHH's improvement investment programme over coming years. The majority of new homes will be for social rent but the plan also includes properties for the rent to HomeBuy and shared ownership markets.
Kevin Thompson, NHH chief executive said: "In the current economic climate, more people than ever are looking towards social landlords for support. It is therefore vital that we deliver the ambitious building programme we have but at the same time remaining financially stable.
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"These properties will not only provide affordable rentable homes for future generations, but will assist many local people in their first steps on the property ladder.