Hundreds of new homes for South Wales after £25m of funding secured
On January 11th 2017, United Welsh, a housing association operating across South Wales, borrowed £25 million from Affordable Housing Finance (AHF) at a highly competitive rate.
The agreement with AHF was completed with funding provided by the European Investment Bank (EIB) and will see United Welsh borrow £25m at rates of less than 2%.
The loan will enable United Welsh to build 300 properties over the next two years, contributing to the Government’s target to build 20,000 new affordable homes during the current term. Once completed, the developments will bring
United Welsh’s total housing stock to more than 6,000 properties across South Wales.
Lynda Sagona, United Welsh Chief Executive, said:
“We are delighted to have secured this funding package. It will enable us to keep developing hundreds of much needed affordable homes for people in South Wales.
“We pride ourselves on providing sustainable, high quality homes as well as creating fantastic communities where people want to live. This funding will help us continue to make a real difference to people’s lives and help ensure
Wales moves closer to having the 20,000 affordable new homes it needs.”
Piers Williamson, Chief Executive of THFC said:
“AHF was delighted to include United Welsh in its latest tranche of low-rate long-term funding to the social housing sector.
“The Housing Finance Corporation (THFC) has a long standing relationship with United Welsh and welcomed their approach to be part of AHF’s award winning structure.”
If you require any further information, please contact:
Anna Meredith, United Welsh
Tel: 029 2085 8185 Email anna.meredith@unitedwelsh.com
Piers Williamson, Affordable Housing Finance Plc
Tel: +44 (0)20 7337 9920, Email: Piers.Williamson@thfcorp.com
Notes to Editors:
United Welsh is a not-for-profit organisation providing housing and related services to people in South Wales.
United Welsh, which has been named the fifth best landlord in the UK, currently manages almost 6,000 properties across 11 local authorities. In the last five years, United Welsh has built more than 1,000 homes and intends to build at least 1,300 more in the next five.
AHF, a subsidiary of THFC, was incorporated in 2013 to facilitate the government’s Affordable Homes Guarantee Scheme.
THFC is a not-for-profit organisation dedicated to co-ordinating investment into the affordable housing market. Since its inception in 1987 it has cultivated long-term relationships with more than 150 of the UK’s housing associations and offers access (without charging a commercial margin) to funding from both the EIB and the Capital Markets.
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