News Column

Innovative housing scheme continuing to deliver

May 30, 2014

Two further participants of the Welsh Government's Housing Finance Grant have secured multimillion pound funding which will deliver almost 300 affordable homes across Wales.

Welsh Housing Associations Wales & West and Group Cynefin secured funding of 12.5 million and 5 million respectively thanks to a bond arranged through Affordable Housing Finance (AHF). Both housing associations intend to obtain further borrowings from AHF later this year.

The Minister for Housing and Regeneration, Carl Sargeant said,

"Delivering quality, affordable homes across Wales is my priority and I've been clear that, in order to do so, we need to look at different, innovative ways of financing and stimulating growth.

"The Housing Finance Grant is a great example of what is possible, with the public and private sector working together to provide over 1000 new homes across Wales.

"This further allocation of funding will see the scheme continue to build on its early success and will see all areas of Wales benefit."

The latest funding means that 19 housing associations in Wales have now borrowed from the scheme, with the majority having received funding in the form of a private placement from M&G Investments last December.

The borrowing is supported by the Welsh Government, who have invested 4 million a year over thirty years to assist Registered Social Landlords with the repayment of this private finance.


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Source: M2 PressWIRE

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