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.
Source
Housing Today
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