Deals

POTENTIAL MERGER 559px

Large London associations announce latest mega-merger plans

07/12/2016 | By Mark Smulian

Peabody and Family Mosaic housing associations have announced plans to merge to create a giant 55,000-home landlord.

david montague yvonne arrowsmith

L&Q and East Thames complete merger and £2.6bn refinancing

06/12/2016 | By Nick Johnstone

L&Q and East Thames have completed their mega-merger, alongside a £2.6bn refinancing deal with seven banks.

Chief executive, Family Mosaic and Chair, G15

Sarsfield: social housing commitment drives merger ambition

07/12/2016 | By Pete Apps

Peabody and Family Mosaic’s merger plans were driven by a joint commitment to providing low-cost rental units, the designate chief executive of the new organisation has said.

CASH 394px

L&G raises £170m for build to rent investment

07/12/2016 | By Mark Smulian

Legal and General has raised a further £170m from institutions for its build-to-rent fund, taking its total investment in this field to around £1bn.

loan mortgage lending

Digital bank enters shared ownership market

07/12/2016 | By Simon Brandon

A UK-based digital-only bank has become the latest mortgage lender to enter the shared ownership market.

SUPPPORTED HOUSING 394px

L&Q to launch £47m supported housing subsidiary

06/12/2016 | By Nick Johnstone

L&Q is planning a return to the supported accommodation sector with a new subsidiary called L&Q Living, which will manage more than 6,600 homes.

Comments (4)

For single use only on 9 December 2016

The mindset after the mega-merger

06/12/2016 | By Nick Johnstone

As the long-awaited merger of L&Q and East Thames completes, Nick Johnstone sits down with the leaders of the newly expanded association to talk about the future

INFRASTRUCTURE 394px

£13bn housing investment included on infrastructure list

05/12/2016 | By Mark Smulian

Investment of almost £13bn in 18 housing projects and programmes has been listed in the government’s £500bn infrastructure pipeline.

Moody's warns credit rating

Stonewater retains credit rating from Moody's

02/12/2016 | By Mark Smulian

Housing association Stonewater has retained its A1 rating from credit ratings agency Moody’s.

MONEY POUND COINS 394px

Grainger profits leap 64%

01/12/2016 | By Mark Smulian

Growing demand in the private rented sector has driven a 64% leap in pre-tax profit for residential landlord Grainger.

Manchester Skyline

Government injects £45m into 2,000 private rental homes

01/12/2016 | By Sophie Barnes

The government has announced a loan of £45m from its new Home Building Fund will go towards more than 2,000 private rental homes in Leeds, Birmingham and Manchester.

MERGER 559px

Clarion Group formed as mega-merger completes

30/11/2016 | By Pete Apps

Affinity Sutton and Circle Housing Group have completed their long-awaited ‘mega-merger’, joining forces to become Clarion Housing Group, the UK’s largest housing association and one of its biggest house builders.

Moody's warns credit rating

Guinness placed on 'negative' outlook by credit agency

29/11/2016 | By Mark Smulian

One of the UK’s largest social landlords has had its credit outlook moved to negative, due to increasing levels of open market sale.

downgrade

Moody's places L&Q and Affinity 'under review for downgrade'

29/11/2016 | By Nick Johnstone

L&Q and Affinity Sutton are both facing ratings downgrades as a result of their respective mergers with East Thames and Circle Housing Group.

Edward Lister

HCA chair reveals equal split of funding for tenures

28/11/2016 | By Sophie Barnes

The government’s £4.7bn Affordable Homes Programme could equally fund affordable housing, Rent to Buy and homeownership products, the chair of the Homes and Communities Agency revealed today.

A2 Dominion issues £150m retail bond

PfP launches third retail bond

28/11/2016 | By Mark Smulian

Places for People Group has launched its third retail bond, which pays a fixed rate interest of 4.25% a year and is due to mature in 2023.

funding

Flagship council housebuilding scheme quietly axed

27/11/2016 | By Nick Johnstone

A flagship £100m Local Government Association scheme, designed to give smaller local authorities the opportunity to borrow collectively to build housing, has been wound down.

Greg Campbell

Culture fit

25/11/2016 | By Greg Campbell

Greg Campbell offers the ‘lucky 13’ questions to help you plot a successful merger

Javid

Javid takes lead on cross-departmental housing taskforce

25/11/2016 | By Corin Williams

Communities secretary Sajid Javid has revealed he is heading up a Whitehall housing taskforce, as he issued a stark warning to big builders that they must improve build-out rates.

Cambridge

Cambridgeshire and Peterborough devolution deal signed off

24/11/2016 | By Sophie Barnes

Cambridgeshire and Peterborough have given the go-ahead to a devolution deal that will include a £170m affordable housing fund.

AUTUMN STATEMENT 2016 559px

Additional £1.4bn of affordable housing cash as restrictions lifted

23/11/2016 | By Sophie Barnes

The £1.4bn of affordable homes cash is additional to the £4.7bn previously announced, with the restrictions limiting that funding to homeownership products lifted.

housing finance

Industry calls for reinstatement of Affordable Housing Guarantee scheme

23/11/2016 | By Nick Johnstone

The housing industry has called on the government to reinstate the Affordable Housing Guarantee scheme in today’s Autumn Statement, after it was scrapped by former chancellor George Osborne last November.

AUTUMN STATEMENT 2016 559px

Grant for affordable rented housing to return in Autumn Statement

23/11/2016 | By Sophie Barnes

The government will invest £1.4bn to deliver 40,000 new homes and relax restrictions on affordable housing funding, as part of the Autumn Statement today.

Comments (2)

Moody's warns credit rating

Essex association retains credit rating

18/11/2016 | By Pete Apps

An Essex-based housing association has had its credit rating upheld by an agency, despite several recent downgrades.

housing finance

PRS bond raises £265m at 1.75%

18/11/2016 | By Pete Apps

A government guarantees programme for the private rented sector has issued its long-awaited £265m bond, with a coupon of 1.75%.

A2 Dominion issues £150m retail bond

Pioneering social housing REIT raises £350m

16/11/2016 | By Nick Johnstone

Civitas Social Housing Real Estate Investment Trust (REIT) has announced that it has raised £100m more than its planned fundraising of £250m, as it prepares to float on the London Stock Exchange on Friday.

CONSTRUCTION 559px

Profits rise 10 times faster than supply at major builders, report finds

16/11/2016 | By Sophie Barnes

Profits grew 10 times faster than housing completions among the top five house builders between 2010 and 2015, a new report has found.

Comments (1)

merger

Associations complete 55,000-home merger

15/11/2016 | By Pete Apps

Two large Southern housing associations have completed their merger to create a new 55,000-home landlord.

housing finance

PRS Housing Guarantee Scheme prepares to issue £265m bond

11/11/2016 | By Pete Apps

The long-awaited private rented sector (PRS) government-guaranteed bond is currently being roadshowed to investors ahead of a launch next week.

A2 Dominion issues £150m retail bond

Experts split on benefits of bond-buying programme

10/11/2016 | By Pete Apps

Sector experts are divided on the potential financial benefits of the inclusion of some housing associations in the Bank of England’s £10bn corporate bond-buying programme.

housing finance

Association agrees £35m bond sale

09/11/2016 | By Pete Apps

A West Midlands housing association has agreed a staggered sale of £35m of bonds to an institutional investor.

rates fall low interest cost bond finance

Apex downgraded by credit agency

08/11/2016 | By Pete Apps

One of the largest housing associations in Northern Ireland has had its credit rating lowered to A from A+ by an agency.

Paragon issues £250m bond

A2 Dominion raises £250m with unsecured bond

07/11/2016 | By Pete Apps

A London housing association has raised £250m after completing a 12-year unsecured bond deal today.

potential merger

Troubled association to merge

07/11/2016 | By Carl Brown

A supported housing provider previously warned by the regulator it may no longer have a future as an independent business will merge with another landlord by the end of this month.

Birmingham

Birmingham City Council signs £55m Chinese deal

07/11/2016 | By Sophie Barnes

Birmingham City Council has signed a £55m deal with Hong Kong and Chinese investors to build new flats on a brownfield site in the city.

Comments (1)

STOCKS CAROUSEL 559px

Sector cautious about social housing REIT

04/11/2016 | By Nick Johnstone

Sector figures have responded with caution to the launch of the UK’s first social housing REIT, expressing concerns that its sale-and-leaseback style strategy could tie associations into onerous long-term obligations to a listed company.

Comments (3)

Domestic violence

DCLG launches £20m fund for domestic violence victims

03/11/2016 | By Sophie Barnes

The government has launched a £20m fund to increase accommodation for victims of domestic violence.

Aberdeen council

Aberdeen Council issues £370m bond

03/11/2016 | By Sophie Barnes

Aberdeen City Council has issued a £370m bond to fund its capital and infrastructure programme.

CARL SARGEANT 394px

Welsh Government to fund 500-home council building programme

02/11/2016 | By Sophie Barnes

The Welsh Government will provide funding for councils to kick-start the building of 500 homes by 2021, as part of its 20,000 affordable homes target.

Comments (1)

International Petroleum Exchange (IPE) trading floor

Ground-breaking £250m social housing REIT to launch

01/11/2016 | By Nick Johnstone

The former chief executive of Homes for Haringey is today making an unprecedented £250m bid to list the first ever Real Estate Investment Trust (REIT) targeted at the social housing sector.

Comments (2)

potential merger

Scottish landlords enter merger talks

31/10/2016 | By Carl Brown

Two Scottish housing associations have entered merger talks.

Aberdeen council

Aberdeen City Council eyes bond issue

26/10/2016 | By Sophie Barnes

Aberdeen City Council is looking to become the first Scottish local authority to issue a bond as it seeks funds for its £1bn capital programme.

Sanctuary Group secures European Investment Bank funding

Nationwide to axe Scottish lending team

19/10/2016 | By Heather Spurr

The second-largest lender to the Scottish social housing sector will scrap its dedicated team north of the border and merge its functions with its operation based in England.

KAREN MAYHEW 600px

Merging for the right reasons

17/10/2016 | By Karen Mayhew

Considering all options and involving tenants is the key to successful mergers, says Karen Mayhew

Paragon issues £250m bond

Sub-2% deal for AHF as central bank buys bonds

12/10/2016 | By Pete Apps

Affordable Housing Finance has raised £124.5m at an interest rate below 2%, after a foreign central bank bought up its bonds.

A2 Dominion issues £150m retail bond

Association pays £50m to unwind swaps

12/10/2016 | By Pete Apps

A housing association paid close to £50m last financial year to terminate and restructure a number of swaps and reduce its exposure to market volatility.

Comments (1)

CASH 394px

Grainger forecasts £50m profit

11/10/2016 | By Pete Apps

The largest listed private landlord in the UK has told investors to expect profit of more than £50m for the year after strong growth despite stamp duty changes and the EU referendum.

Aberdeen council

Aberdeen City Council in credit rating first

10/10/2016 | By Sophie Barnes

Aberdeen City Council has become the first local authority in Scotland to be assigned a credit rating as it seeks funding to build 3,000 homes over 15 years.

CE, Taylor Wimpey

Redfern: government focus on homeownership 'destructive'

10/10/2016 | By Sophie Barnes

The government’s focus over the past year on homeownership is “destructive” for the long-term supply of housing, the chair of a Labour-commissioned review has said.

Pic of arm holding a bag of money

Japanese bank signs £75m association deal

07/10/2016 | By Pete Apps

A Japanese bank has signed a new 10-year loan for £75m with a home counties social landlord.

CREDIT REPORT 559px

Sovereign credit rating downgraded ahead of merger

04/10/2016 | By Pete Apps

A South West-based housing association has had its credit rating lowered ahead of a major merger due to “revenue pressure stemming from rent cuts”.

downgrade

Major London landlord downgraded by credit agency

04/10/2016 | By Pete Apps

A major London housing association has had its credit rating downgraded due to its increasing exposure to sales and rising debt.

POTENTIAL MERGER 559px

East Thames and L&Q merger timetable revealed

04/10/2016 | By Pete Apps

East Thames will fully amalgamate into L&Q by March 2019, following the completion of the merger between the two organisations in December.

merger

HCA approves 128,000-home merger

30/09/2016 | By Carl Brown

Affinity Sutton and Circle have received conditional approval from the Homes and Communities Agency (HCA) for their 128,000-home ‘mega-merger’.

Comments (2)

rates fall low interest cost bond finance

Long-term value of social housing falls post rent cut

26/09/2016 | By Pete Apps

The long-term value of social housing properties has slipped significantly across most of the country as a result of the rent cut.

STEVE DOUGLAS SEPT 2015

A tale of three mergers

23/09/2016 | By Steve Douglas

Social landlords wishing to merge must share a vision as well as a desire to increase capacity, says Steve Douglas

BANK OF ENGLAND 559px

NHF still hopeful BoE will buy bonds

23/09/2016 | By Pete Apps

The National Housing Federation (NHF) is continuing to push for housing associations to be included in a Bank of England (BoE) bond-buying scheme, despite their exclusion from the initial list.

restructure

Thirteen Group plans to collapse structure

21/09/2016 | By Carl Brown

North-east based landlord Thirteen Group is to consult tenants about conflating its group structure.

Welsh Assembly

Welsh Government targets 6,000 Help to Buy homes

20/09/2016 | By Pete Apps

A total of 6,000 Help to Buy properties will be included in the Welsh Government’s 20,000 affordable homes target over the next parliament. 

kerslake

Peabody boosts surplus by £50m

20/09/2016 | By Pete Apps

Peabody has boosted its annual surplus by £50m to £116m for the year, as it built 1,080 new homes across London.