Funding

rates fall low interest cost bond finance

Bond aggregator completes first deal since 2015

24/03/2017 | By Pete Apps

A bond aggregator has completed its first deal for more than a year, with a £40.2m bond for four housing associations.

demolition brownfield factory

Barwell: 5% of Starter Homes Land Fund invested

24/03/2017 | By Sophie Barnes

The government has invested 5% of its £1.2bn Starter Homes Land Fund in 27 sites, the housing minister has revealed.

Shared ownership keys house buy

Shared ownership company buys housing association

23/03/2017 | By Pete Apps

A shared ownership specialist company has bought a housing association, as it seeks £1bn of institutional investment to fund new homes.

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moodys

Moody's: sales exposure to rise in future years

21/03/2017 | By Pete Apps

Debt, capital expenditure and exposure to the sales market will all rise as housing associations step up their development in the coming years, Moody’s has said.

Moody's warns credit rating

Association debt to exceed £80bn by 2019

21/03/2017 | By Nick Johnstone

Ratings agency S&P has said that housing association debt will exceed £80bn by 2019.

homelessness

Government shifts funding focus to greatest homelessness demand areas

16/03/2017 | By Sophie Barnes

The government has announced that £402m of funding over the next two years will be targeted at the councils with the greatest homelessness demand.

funding

HCA agrees loans for 10,250 homes

16/03/2017 | By Nathaniel Barker

The Homes and Communities Agency has agreed two loans with developers totalling £98.8m to kick-start projects which will provide 10,250 new homes.

regulation

S&P: deregulation 'will not damage credit ratings'

15/03/2017 | By Pete Apps

Impending deregulation will not damage credit ratings for English housing associations, a major ratings agency has confirmed.

funding

Council company targets institutional cash

15/03/2017 | By Nick Johnstone

Croydon Council’s housing company Brick by Brick is expected to launch a bid for institutional investment over the next six months – to finance its ambitious development plans.

economy

Economic sentiment among associations 'at highest point since crash'

15/03/2017 | By Pete Apps

Economic sentiment among housing associations is at its highest level since the financial crisis, with landlords scaling up delivery plans despite the looming threat of Brexit.

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Scottish Government announces £590m affordable housing funding

13/03/2017 | By Sophie Barnes

The Scottish Government will make £590m available this year to increase the supply of affordable homes in Scotland.

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PfP launches fund management arm with £150m acquisition

10/03/2017 | By Pete Apps

A housing association has launched a new fund management business with an acquisition of 1,379 units valued at £150m.  

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Associations will not build supported housing without LHA cap certainty

10/03/2017 | By Sophie Barnes

Housing associations will not spend government funding earmarked for supported housing schemes unless more certainty is given over the Local Housing Allowance cap.

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Government moves grant funding forward a year to improve borrowing outlook

08/03/2017 | By Sophie Barnes

THE BUDGET: The government has moved £200m in housing association grants forward a year, which has helped lower its borrowing outlook from the Office for Budget Responsibility (OBR).

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Scottish parliament

SFHA warns Scottish DHP budget will be 'overwhelmed'

06/03/2017 | By Sophie Barnes

The Scottish Government has increased Discretionary Housing Payment (DHP) funding to almost £58m to mitigate the impact of welfare cuts in the first year it has control over DHPs.

Comments (1)

RENT INCREASE 394px

Three quarters of associations want rent freedom

02/03/2017 | By Nathaniel Barker

More than three quarters of housing associations support having rent freedom, a National Housing Federation survey has found.

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housing finance

Co-op Bank demands repayment of association loan due to technical breach

01/03/2017 | By Sophie Barnes

A Scottish housing association’s bank demanded early repayment of a loan after regulatory intervention triggered a technical breach of its covenants.

councils, repairs, auisterity, social housing

Councils seek to plug budget holes as rent cut bites

24/02/2017 | By Sophie Barnes

Councils are boosting their income through service charge rises and other fee increases as pressure from the 1% rent cut on Housing Revenue Accounts ramps up.

housing money  house 559

Barratt boosts profits despite dip in homes built

22/02/2017 | By Pete Apps

The UK’s largest house builder has announced boosted profits in the six months to the end of December, despite a dip in the number of homes it built.

David Orr

Orr hits out at government supported housing proposal

21/02/2017 | By Sophie Barnes

The chief executive of the National Housing Federation (NHF) has hit out at a government proposal to hand supported housing funding to councils because he fears it will create geographical inequalities.

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Aberdeen council

Aberdeen association secures £12.5m loan

21/02/2017 | By Pete Apps

An Aberdeen housing association has secured a £12.5m loan to build 147 homes in the city and the surrounding area.

MONEY 394px

Galliford Try reports 23% profit boost

21/02/2017 | By Pete Apps

House builder Galliford Try has reported a 23% profit boost in its half-year results through to the end of December.

rent standard cover 559

NHF warns of 'significant risks' in deal-based rents approach

20/02/2017 | By Pete Apps

The National Housing Federation (NHF) has warned of “significant risks” to a deal-based approach for future rent settlements.

Comments (2)

George Osborne holds up his briefcase for the media

NHF calls for rent freedom in Budget

17/02/2017 | By Sophie Barnes

The National Housing Federation (NHF) is calling for rent freedom and for housing to play a part in the government’s industrial strategy, ahead of next month’s Budget.

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housing money  house 559

Global Accounts: associations' sales activity soars 39%

17/02/2017 | By Nick Johnstone

Just 10 housing associations were responsible for three-quarters of the sale activity carried out by UK landlords in 2015/16, while the total proceeds from such sales grew by 39%.

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Cala on course for record profits

16/02/2017 | By Pete Apps

The house builder part-owned by giant institutional investor Legal and General (L&G) is set to deliver record profits and new homes, a trading update said.

Newbury

Sovereign secures £150m European investment

13/02/2017 | By Nick Johnstone

Sovereign, the UK’s sixth-largest housing association, has signed a £150m funding deal with the European Investment Bank (EIB) to support its plans to build 4,500 new homes over the next three years.

National flag of Wales

£30.5m loans for Bron Afon to build 450 homes

13/02/2017 | By Nathaniel Barker

Welsh association Bron Afon Community Housing has pledged to build 450 homes after securing £30.5m in loan deals.

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Barwell: we will balance 'fiscal consequences' with calls for rent flexibility

08/02/2017 | By Pete Apps , Tim Clark

The government will balance the “fiscal consequences” of higher rents against housing associations’ calls for full flexibility, the housing minister has said.

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RENT INCREASE 394px

Government to set new post-2020 rent standard for housing associations

07/02/2017 | By Pete Apps

WHITE PAPER: The government will set out a new rent standard for social landlords for the period after 2020 “in due course” to help housing associations build.

housing finance

AHF makes £25m loan to south Wales association

06/02/2017 | By Nathaniel Barker

South Wales housing association United Welsh has secured a £25m loan from Affordable Housing Finance (AHF).

Deal

Housing association strikes £85m deal with investment manager

06/02/2017 | By Sophie Barnes

One Housing has borrowed £85m to build 1,450 homes in a long-term deal with investment manager M&G Investments.

Helen Rourke Trafford Housing Trust social housing finance

Why we embarked on a £275m refinancing deal

01/02/2017 | By Helen Rourke

Trafford Housing Trust’s director of finance, Helen Rourke, explains the thinking behind the major deal announced last week

Benefit cap

Scottish councils warn lower benefit cap putting pressure on DHP budgets

31/01/2017 | By Sophie Barnes

A number of Scottish councils have warned they may not be able to afford the full cost of Discretionary Housing Payments to cover tenants’ rent in the future because of the new lower benefit cap.

loan mortgage lending

CML backs HCA's independent regulator plans

30/01/2017 | By Tim Clark

The Council of Mortgage Lenders (CML) has said it supports plans to establish an independent regulator for the sector.

rates fall low interest cost bond finance

Moody's corrects ratings for £105m bond after accidental downgrade

30/01/2017 | By Tim Clark

Financial ratings agency Moody’s has upgraded a £105m secured bond issued by Places for People after admitting to a rare admin error last June.

funding

Giant higher education pension fund invests in supported housing

30/01/2017 | By Pete Apps

A construction company has launched a joint venture with one of the UK’s largest pension funds to build a £200m portfolio of supported housing.

Deal

Trafford strikes £275m funding deal

24/01/2017 | By Nick Johnstone

A Manchester-based housing association has struck a new £275m funding deal with two banks and two institutional investors, replacing a previous £145m facility.

Deal

Cheyne Capital buys £51.8m Croydon portfolio

20/01/2017 | By Nick Johnstone

The Cheyne Social Property Impact Fund has purchased a 338-unit portfolio of residential properties in Croydon, thought to be worth £51.8m.

development

German bank to fund Manchester PRS scheme

16/01/2017 | By Pete Apps

A German bank has agreed to provide an £85m loan to fund a large private rented sector development in Manchester.

Paragon issues £250m bond

AHF secures £114.8m record low bond

12/01/2017 | By Nick Johnstone

Two housing associations have secured a £114.8m bond at a record low rate under the government’s guaranteed finance scheme.

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Scottish Government announces £1.65m funding for housing support

09/01/2017 | By Sophie Barnes

The Scottish Government has announced the recipients of £1.65m of funding for homeless services and housing providers working with vulnerable people.

Elderly woman receiving care at home

Councils to build specialist affordable rented homes with government cash

06/01/2017 | By Sophie Barnes

Councils that were awarded the largest pots of funding from the government’s Shared Ownership and Affordable Homes Programme will spend the money largely on affordable rented homes in the supported housing sector.

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Revealed: tenure breakdown for Affordable Homes Programme

06/01/2017 | By Sophie Barnes

The government has revealed the tenure breakdown of the homes that will be funded by part of its Shared Ownership and Affordable Homes Programme.

Comments (2)

Moody's warns credit rating

EMH Group keeps stable credit rating

06/01/2017 | By Sophie Barnes

An East Midlands-based housing association has kept its A+ rating from Standard & Poor’s (S&P).

house building

Bidding open for government's affordable housing programme

05/01/2017 | By Sophie Barnes

The government has opened the bidding process for its beefed-up affordable housing programme, with the majority of funding still expected to deliver homeownership products.

Comments (5)

signing contract deal

Civitas buys £15m supported living portfolio

03/01/2017 | By Nick Johnstone

Civitas Social Housing, the pioneering Real Estate Investment Trust, has today announced the acquisition of a £15m portfolio of 17 supported living properties.

Comments (1)

Extra care scheme, Manchester

County council plans 600 extra care homes

21/12/2016 | By Sophie Barnes

A county council is pushing ahead with plans to deliver 600 extra care homes as the pressures on adult social care eat into its budget.

funding

Successful bidders for learning disability housing fund announced

20/12/2016 | By Luke Barratt

Councils from Cornwall to Tyneside have won a share of a £25m pot to help people with learning disabilities live independently.

Moody's warns credit rating

Association's top credit rating affirmed by agency

16/12/2016 | By Pete Apps , Clare Mullooly

A housing association based in west London has had its high credit rating affirmed, meaning it becomes the joint best rated association in the country.

Scottish parliament

Scottish Government announces rental income guarantee scheme

15/12/2016 | By Sophie Barnes

The Scottish Government will develop a rental income guarantee scheme to kick-start delivery of private rented sector homes “at scale”, it has revealed in its draft budget for 2017/18.

A2 Dominion issues £150m retail bond

Wembley PRS scheme benefits from £39.4m bond

15/12/2016 | By Nick Johnstone

A private rented sector scheme in Wembley has become the latest recipient of bond money secured under the £3.5bn Private Rented Sector Housing Guarantee Scheme.

housing finance

Civitas Social Housing REIT lands £65m debut purchase

15/12/2016 | By Nick Johnstone

Ground-breaking social housing investor Civitas Social Housing PLC has today announced its first deal – the £65m purchase of a portfolio of supported living properties on leases of 25 years.

European Commission

Notting Hill seeks £200m EIB loan

14/12/2016 | By Nick Johnstone

Notting Hill Housing Trust is awaiting approval of a £200m loan from the European Investment Bank (EIB), to fund around 1,000 homes across a number of new build affordable rented projects.

Paragon issues £250m bond

Scottish landlord takes £5m loan from social investor

09/12/2016 | By Simon Brandon

Dumfries & Galloway Housing Partnership (DGHP) is set to build 80 new affordable homes with a government-backed £5m, 10-year loan from a social investment charity.

Essential Living

Essential Living secures £60m loan for modular housing

09/12/2016 | By Mark Smulian

Developer Essential Living has secured a £60m loan facility for what it believes is the UK’s first modular build-to-rent scheme.

scotland

Deregulation in Scotland 'credit negative'

09/12/2016 | By Simon Brandon

Plans by the Scottish Government to weaken social housing regulation will be credit negative, the chair of the Scottish Housing Regulator has warned.

CASH 394px

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

08/12/2016 | By Mark Smulian

Legal & 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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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.

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.