Watmos Community Homes, headquartered in Walsall with a London base, will drive forward plans to upgrade more than 1,000 homes by 2024, after securing funding from NatWest.
The organisation will use the £12.5m funding package to improve the energy performance of its homes, helping to reduce tenant utility bills. It will use the funding to create an additional 15 new homes to its portfolio of 2,700 homes across Walsall and London.
Watmos Community Homes was founded in 2003 after they took over management of 1,800 homes from Walsall Metropolitan Council, following a large-scale voluntary transfer (LSVT).
The homes are managed by seven separate Tenant Management Organisations (TMOs) who administer the day-to-day activities of the homes. In 2012, Watmos acquired an additional three more TMOs in 2012, based in Lambeth, London.
Today, Watmos Community Homes employs 89 staff and has provided accommodation throughout the pandemic to people in housing need.
David Saunders, Director of Resources, Watmos Community Homes, said: “The funding from NatWest will enable us to update our current portfolio of properties, making them more energy and cost efficient for our tenants living in them.
“As we expand, we will continue to focus on improving lives by providing social housing. We’ll also maintain our community services which work with the local areas to provide social activities and clubrooms, supporting local partners on community priorities and joint working with local community organisations.”
The funding forms part of NatWest’s recent commitment to support the housing association sector with £3bn of finance by the end of 2022. This will support the increase in provision of social housing, as well as the improvement of existing properties.
Dharmesh Patel, NatWest Associate Director, Duncan Todd, Relationship Director, Alan Saunders, Credit Director, supported David and the team at Watmos Community Homes.
Dharmesh said: “At NatWest we are committed to supporting housing associations and have provided a funding package that will help Watmos Community Homes provide funding to support refurbishment works to existing properties and new accommodation to people in need across the West Midlands and London. We will continue to work with Watmos as it expands its portfolio of affordable and shared ownership housing.”