Norfolk housing association seals £20m loan

Victory Housing Trust, a social housing provider based in North Walsham, announced it had secured a £20m funding package from Lloyds Bank today.

Victory said the arrangement would allow it to double the rate at which it builds homes to 200 per year.

Development is targeted to take place across 14 sites in towns including Holt, Sprowston and Framingham Earl.

Stephen Read, finance director at Victory, said: “The recent funding marks a new chapter for our organisation and we can now double the rate that we build new homes.

“This is all a part of our five-year strategy in which we’re aiming to build more affordable housing in the region; improve and maintain our current homes; and support our residents, both current and future.”

Jo-Ann Bonham, relationship director for social housing at Lloyds Bank Commercial Banking, said: “Victory Housing Trust is an organisation that makes a huge difference to people in Norfolk by providing high-quality housing.”