Essex landlord secures series of refinancing deals with focus on sustainability

The Essex-based housing association said this facility is linked to the achievement of sustainability performance measures, including taking action on energy performance ratings and targets related to equality, diversity and inclusion.

Eastlight also has a £100m sustainability-linked loan facility with Danske Bank, for which documentation of key performance indicators has recently been completed.

Lower borrowing costs on this facility are linked to improving Energy Performance Certificate (EPC) ratings across existing homes and reducing the gender pay gap. 

David Mullen, executive director of finance at Eastlight, said the three transactions “strengthen Eastlight’s ability” to deliver against its corporate strategy.

“They provide the financial resilience to invest in our homes and neighbourhoods, while embedding sustainability into our operations,” he added.

Lauren Bailey, associate director for housing at Lloyds, said the bank believes that “tackling affordability and sustainability are important steps in creating housing that is fit for future purpose”.

She continued: “We are proud to support Eastlight as it invests in its communities while linking its funding to positive social and environmental outcomes, and look forward to seeing it build new, energy-efficient homes and retrofit existing properties to higher sustainability standards.”

Aradhna Lawson, senior relationship director at Santander UK, said: “We are delighted to have supported Eastlight on this refinance exercise, further expanding on our long-standing relationship and enabling Eastlight to deliver much-needed, quality and affordable housing and to invest in their homes and neighbourhoods.”