A Glasgow-based housing association has signed a £24m loan with bank Nationwide.
Cumbernauld Housing Partnership will use the money to improve its stock over the next 14 years.

It has already spent £1.4m to buy 93 homes from Edinburgh’s Haven Housing Association, which has now been wound up.

Meanwhile, Arcon Housing Association has signed a £2m deal with Bradford & Bingley. The money will fund development.

The Manchester-based association does not get approved development programme funds for housebuilding.

It will build a mix of market rented, shared-ownership and social rented housing.

Finance director Eric Tamanis said the money would last for three years. He added that previous funding tended to come on a project-by-project basis.

Source

Housing Today