Flagship Housing Group has raised £54.9m on the bond market in a deal with the Royal Bank of Scotland.
The funds have been secured against income from the East Anglian registered social landlord's 15,000 properties. The facility will run for 36 years.

Tony Blewitt, Flagship operations director of finance, said: "This bond guarantees our development programme for the next two years.

"It enables us to obtain finance over the longer term at a fixed rate that is not available from the conventional loan market."

RBS previously provided Flagship with an £81.4m securitisation in 1999. This additional issue has taken Flagship's total facility with RBS to £136.3m. To date, the bank has conducted £350m of securitisation with housing association stock.

RBS director of securitisation Paul Townsend said: "The bond market offers a [degree of] maturity and leverage that otherwise might not be realised."