Lloyds Bank has agreed a £30m loan facility for Selwood Housing, supporting the delivery of local, affordable homes over the next five years.
Selwood Housing Group, a Wiltshire based housing association, with head offices in Trowbridge and Melksham, employs nearly 300 staff and provides over 6,500 local affordable homes. The Group recently retained its G1/V1 status, the highest rating possible for financial viability and governance, given by the social housing regulator.
The Lloyds Bank loan facility will solely be used to fund Selwood Housing’s development activity; an ambitious programme set to build over 1,000 new, local affordable homes by 2025.
Barry Hughes, Selwood Housing Group Chief Executive, said: “We’re delighted to have this agreement in place with Lloyds Bank as it supports us with our core purpose — to provide homes for people in housing need in our local communities. It’s an important part of our funding strategy, bringing flexibility and strength to our ongoing and locally focused development plans.”
Chris Hudson, Associate Director at Lloyds Bank Commercial Banking, added: “Like many regions, the South West has seen a decline in the number of new affordable homes being built in the last decade, which is why we continue to work by the side of ambitious housing associations like Selwood Housing as part of our plan to help Britain prosper. We look forward to helping the team deliver on its long-term development programme, creating additional high-quality housing in Wiltshire.”
Housing associations are a key provider of new homes in the UK, helping to tackle the current housing crisis. Selwood Housing has built over 600 homes in the last three years (April 2017 – March 2020).
Header image shows Selwood Housing Group celebrating breaking ground at Margaret Stancomb School, a brownfield site the HA is currently developing into affordable homes in the centre of Trowbridge, whilst keeping the original school building.