Funding

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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.

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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.

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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.

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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.

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£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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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.

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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.

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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.

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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.

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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.

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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.

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.

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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.

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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.

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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.

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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”.

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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.

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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.

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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.

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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.

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. 

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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.

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Date set for ONS Home Nations decision

20/09/2016 | By Pete Apps

The classification decision on housing associations in Wales, Scotland and Northern Ireland will be announced on 29 September.

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Policy Exchange: large landlords should raise rents to build

19/09/2016 | By Chloë Stothart

The largest housing associations should be allowed to raise rents in exchange for agreeing to build more homes, an influential thinktank has said.

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Land trusts and refuges among rent cut exemptions

16/09/2016 | By Chloë Stothart

Community land trusts, co-operatives, fully mutuals, refuges and almshouses will be exempt from the government’s four-year rent cut, the work and pensions secretary has told MPs.

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Associations shunned in bond buying scheme

15/09/2016 | By Chloe Stothart

Housing associations debt has not been included in a £10bn government bond buying programme.

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Property prices rise in East of England

13/09/2016 | By Chloë Stothart

The East of England saw the highest growth in house prices during the past year, government figures reveal.

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Derwent and PfP enter merger talks

12/09/2016 | By Chloë Stothart

Places for People has begun merger talks with Derwent Housing Association, the landlord has told investors.

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House builders warn of tax impact on London market

06/09/2016 | By Pete Apps

Two of the United Kingdom’s largest house builders have today warned that tax changes are having a negative effect on London’s housing market.

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housing finance

Watford association records £5m surplus

05/09/2016 | By Pete Apps

A Hertfordshire housing association has recorded a surplus of just under £5m.

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Kier launches joint venture model

01/09/2016 | By Pete Apps

A major developer has launched a joint venture model in a bid to form partnerships with Northern housing associations and build 1,000 homes in three years.

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Orr calls for association inclusion in bond buying scheme

30/08/2016 | By Pete Apps

David Orr has written to the Bank of England calling on it to buy up housing association bonds in its forthcoming £10bn stimulus package.

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ONS decision due within weeks

22/08/2016 | By Pete Apps

The Office for National Statistics (ONS) will announce its decision on the classification of housing associations in the remaining Home Nations in the coming weeks.