Abbey has agreed £70m of social housing loans.

The bank has completed deals with housing associations Southern Housing Home Ownership, Manchester Methodist, New Islington & Hackney, Somer Housing Group, and Circle 33.

Southern Housing Home Ownership has raised its revolving loan facility with the bank to £20m. The cash will be spent on new developments and those already in the pipeline.

Manchester Methodist has raised its Abbey loan to £20m.

New Islington & Hackney has taken out £30m of loans with Abbey and rolled up £25m of old ones with the bank and Halifax Building Society.

It has also signed a £50m deal with Barclays. These funds supplement New Islington’s £58.3m, two-year grant from the Housing Corporation.

Abbey also took part in three deals involving a number of lenders for Somer and Circle 33.