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NatWest has agreed £246m of new funding facilities with Housing Plus Group, supporting the not-for-profit housing association’s plans to increase the supply of affordable homes and invest in communities across Shropshire, Stafford, Telford and Wrekin.
Housing Plus Group manages more than 33,000 homes, providing social and affordable rented housing, low-cost and shared ownership options, supported housing, and care and support services, alongside other housing types. The new package comprises a revolving credit facility, a term loan and a dedicated social loan, designed to give the association flexible, cost-effective funding aligned with its social purpose and long-term strategy.
It forms part of NatWest’s broader commitment to the UK social housing sector, having provided more than £25bn in funding to housing associations between 2018 and 2025, with a new ambition to deliver a further £10bn to the sector by the end of 2028.
Wayne Gethings, chief executive of Housing Plus Group, said: “Creating places people are proud to call home is at the heart of our purpose. This funding package gives us the financial capacity and flexibility to invest in new homes, continue enhancing existing properties and maintain the care and support services that many of our customers rely on.”
He added: “NatWest’s understanding of our sector and our social mission has helped us secure a blend of facilities that supports both our immediate priorities and our long-term ambitions, ensuring we can keep delivering for our communities across Staffordshire and Shropshire.”
Richard Nowell, interim chief financial officer at Housing Plus Group, said: “Having a mix of revolving, term and social loan facilities in place creates a robust and agile funding platform for Housing Plus Group. It allows us to respond to changing conditions while keeping a clear focus on value for money and sustainability.”
Dean Holleyman, relationship director for housing finance at NatWest, said: “Housing associations such as Housing Plus Group play a vital role in tackling the UK’s housing challenges and supporting residents who need secure, affordable homes. This £246 million package is a good example of how we can combine different types of facilities to provide flexible, value-driven funding that supports local growth, improves existing homes and helps deliver new affordable housing.”
NatWest acted as lender and structuring bank on the transaction, working with Housing Plus Group’s executive and treasury teams to tailor the facilities to the association’s requirements.
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