Northern housing association Karbon Homes, has increased its loan book by agreeing £200m of new facilities with three lenders, to support its ambitious investment plans.
Agreeing new loan facilities with existing lender Santander and two new lenders, HSBC and Nationwide, this enhanced liquidity will play a key role in enabling Karbon to deliver a pipeline of new homes, alongside maximising investment in its existing properties.
Scott Martin, Executive Director of Resources at Karbon Homes, said: “A chronic shortage of affordable housing in the North East and Yorkshire, paired with a need to ensure existing affordable homes are of the highest quality and our communities are supported, means investment in our sector has never been more important.
“We’re pleased to be working with HSBC and Nationwide as new funding partners, and are grateful for the continued support of Santander, which has been a key financing partner for a number of years.
“This new liquidity will help ensure we have the financial capacity to deliver our strategy, so we can continue to build strong foundations for life for more people across the North.”
Karbon was supported through the process by treasury advisors Savills Financial Consultants with Trowers and Hamlins LLP providing legal support.
David Whelan, Relationship Director, Social Housing at HSBC UK, said: “HSBC UK are delighted to form a new lending relationship with Karbon Homes and our new facility will help support the development of new homes alongside important investment in existing homes for the benefit of its customers.
“Karbon is a key name we have been tracking for several years, and this facility expands our growing sector presence and support in the North of England.”
Mark Evans, Nationwide Social Housing Team, said: “As one of the largest lenders to the UK`s social housing sector, we are proud to welcome Karbon Homes as a new customer. With the close alignment of our mutual social purpose, we are pleased to support Karbon Homes in its delivery of affordable, safe, and sustainable housing to some of the most vulnerable in our society."
The new financing will help Karbon meet the commitments in its 2024-29 'Stronger Foundations' strategic plan.
Karbon’s footprint covers the North East of England and Yorkshire, with more than 34,000 homes.
Northern housing association Karbon Homes, has increased its loan book by agreeing £200m of new facilities with three lenders, to support its ambitious investment plans.
Agreeing new loan facilities with existing lender Santander and two new lenders, HSBC and Nationwide, this enhanced liquidity will play a key role in enabling Karbon to deliver a pipeline of new homes, alongside maximising investment in its existing properties.
Scott Martin, Executive Director of Resources at Karbon Homes, said: “A chronic shortage of affordable housing in the North East and Yorkshire, paired with a need to ensure existing affordable homes are of the highest quality and our communities are supported, means investment in our sector has never been more important.
“We’re pleased to be working with HSBC and Nationwide as new funding partners, and are grateful for the continued support of Santander, which has been a key financing partner for a number of years.
“This new liquidity will help ensure we have the financial capacity to deliver our strategy, so we can continue to build strong foundations for life for more people across the North.”
Karbon was supported through the process by treasury advisors Savills Financial Consultants with Trowers and Hamlins LLP providing legal support.
David Whelan, Relationship Director, Social Housing at HSBC UK, said: “HSBC UK are delighted to form a new lending relationship with Karbon Homes and our new facility will help support the development of new homes alongside important investment in existing homes for the benefit of its customers.
“Karbon is a key name we have been tracking for several years, and this facility expands our growing sector presence and support in the North of England.”
Mark Evans, Nationwide Social Housing Team, said: “As one of the largest lenders to the UK`s social housing sector, we are proud to welcome Karbon Homes as a new customer. With the close alignment of our mutual social purpose, we are pleased to support Karbon Homes in its delivery of affordable, safe, and sustainable housing to some of the most vulnerable in our society."
The new financing will help Karbon meet the commitments in its 2024-29 'Stronger Foundations' strategic plan.
Karbon’s footprint covers the North East of England and Yorkshire, with more than 34,000 homes.
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