ForHousing has successfully completed a major refinancing exercise to support its work to positively impact the lives of social housing tenants, and ensure homes are safe and well maintained.
As part of the deals with NatWest and Barclays, ForHousing has also renegotiated loan covenants to enhance long-term financial capacity and support the delivery of the ForHousing Strategy.
The updated loan facilities will provide financial capacity for:
- Increased investment in existing homes, following an updated stock condition survey programme – ensuring we can act on the information in the surveys and speed up our programme to improve tenants’ homes.
- The delivery of 1,100 much-needed new homes for social rent over the next four years.
The refinancing totals £215 million, comprising £75 million in revolving credit facilities and £140 million in term debt facilities, increasing ForHousing’s total borrowing to £321 million.
The new funding will ensure we are investing where it matters to our communities the most – and support our mission to provide safe, well-maintained homes and deliver customer-focused, equitable and efficient services.
