Wakefield transfer landlord strikes 420m loan deal

Wakefield & District Housing has secured a £420m loan from the Royal Bank of Scotland.

Wakefield & District will receive 33,500 homes from Wakefield & District council next March, making it one of the largest transfer landlords in the country.

The loan is one of the biggest awarded to a social landlord, and will make a substantial contribution to the £700m transformation of Wakefield in the next 10 years.

Kevin Dodd, chief executive of Wakefield & District Housing, said: “Royal Bank of Scotland had the edge because we share a common vision and values to position Wakefield & District as a leading housing organisation.”

Ken Taylor, the association’s chair, added: “This funding package will offer a massive lift to the economy and regeneration of Wakefield & District, and will underpin the developments and targets of the Northern Way.”

This funding will offer a massive lift to the economy and regeneration, and underpin the Northern Way

Ken Taylor, Wakefield & District Housing

Clive Barnett, head of housing finance at RBS, said: “We are delighted that Wakefield & District has selected us to arrange what will be the largest private finance for a large-scale voluntary transfer in the foreseeable future.

“Wakefield & District will be a dynamic and vibrant organisation that will make a real difference.”

In its first five years, Wakefield & District will embark on wide-scale improvements to local surroundings, environmental initiatives, new build and increased employment opportunities.