Bromford Flagship secures £50m NatWest loan to build energy-efficient homes

Paul Walsh, the landlord’s chief finance officer, said NatWest has been a “key strategic funding partner” for several years, and this new £50m “underlines the strength” of the bank’s long-term support for Bromford Flagship and the sector.

He continued: “The social aspects of this loan clearly demonstrate the alignment of our organisations’ values and strategic objectives.

“This type of innovative funding structure helps us to deliver much-needed new homes for social rent, the most affordable tenure, while continuing to invest heavily in our existing homes and deliver high-quality services to customers.

“As we develop our place-based working model, we will continue to look for opportunities to innovate and lead the sector with the ongoing support of our key funding partners.”

Paul Eyre, head of residential and housing finance at NatWest, said their agreement with Bromford Flagship is a “great example” of the bank’s commitment to “accelerating the delivery of homes for social rent across the UK” via its dedicated social loan fund.

“We’re proud to support Bromford Flagship’s drive to build urgently needed, affordable and energy-efficient social rent homes to help address the housing crisis while also delivering wide reaching benefits for local communities,” he added.

The housing association recently secured £150m of sustainability-linked funding from HSBC UK to boost the development of energy-efficient homes while also investing in existing stock.

In June, the housing association issued its first £300m sustainable bond, which it said was used to reorganise the group’s financing and unlock around £1.9bn of additional capacity.