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Liverpool housing association borrows £50m
Liverpool-based housing association One Vision Housing has borrowed £50m from Barclays.
The 13,000-home association completed a revolving credit facility, it’s planning to use the funds to support its development plan of 300 new homes a year.
One Vision Housing, which is part of The Sovini Group, was formed in October 2006 through the transfer of housing from Sefton Metropolitan Borough Council.
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Tracey Liggett, chief finance officer at One Vision Housing, said: “This deal is great news for One Vision Housing and we hope it marks the beginning of a long relationship with Barclays.
“We are delighted to have secured this funding which will allow us to provide more high-quality homes and further help us deliver on our vision of thriving, inclusive communities in Liverpool and surrounding areas.”
Barclays is a regular investor in the social housing sector and just this week signed a £150m loan deal with the government’s housing delivery agency, Homes England.
This deal was aimed at accelerating the construction of more than 600 homes on a site in west London that will be partly developed by the housing association Catalyst.
Michelle Murray, relationship director at Barclays, said: “With Barclays’ strong track record in supporting social housing projects, we quickly developed a strong relationship with One Vision Housing’s [OVH] management team and a good understanding of how they will deliver on their strategy.
“Working with OVH to agree this new funding underlines our ongoing commitment to the social housing sector in the UK.”
