Registered providers (RPs) have been invited to bid for £400m of loans at an initial 1 per cent fixed interest rate to fund new build of ‘time limited’ affordable rent homes.
Cross Keys Homes is in talks with the regulator over on-lending funding secured against social housing assets after issuing what is thought to be the sector’s first ‘green bond’.
Bromford Group returned a record surplus in the 2013/14 year through rents and service charges, with a particular focus on cash generation enabling it to take ‘a great step towards our grant-free future’.
HCA targets delivery of 29,000 homes in 2014/15 as analysis shows slow progress in London along with continued NAHP starts.
Thirty-four social landlords are already generating a fifth of their turnover from non-core income
While many will be happy to see the back of PFI housing, the last seven schemes will result in 5,612 refurbished and new homes.
If profit and surplus are no longer bad…how do you maximise them for social purpose?
Local government has moved towards outsourcing in recent years, but social housing has begun to head in the opposite direction.
Sources of funding, loan agreements, derivatives and covenants are not just for the specialists - board members must also get to grips with the basics.
While there are benefits to establishing a ‘process’ for private placements, HAs need to avoid signing up to unwelcome precedents that will restrict them in the future.
The SHPS valuation is likely to see the £1bn deficit unchanged - but that is potentially where the good news ends.