Flexible Funding for New Affordable Housing for Scottish Border
Scottish Borders Housing Association (SBHA) has secured a £58 million facility from Royal Bank of Scotland to support investment in current homes and the delivery of 300 new homes over the next seven years.
SBHA owns and manages more than 5,600 homes across the Scottish Borders, from Skirling in the West to Yetholm in the East, and from Heriot in the North to Newcastleton in the South. With current new build sites in Peebles and Kelso totalling 18 homes, SBHA’s plan to deliver 300 affordable homes will provide a significant boost to the communities within the Borders.
Chatham Financial, SBHA treasury advisors, supported the team to ensure the Association’s funding structure provided a best fit with short and long term aspirations. Alongside the new developments, the facility will support investment in current Tenants’ homes in future proofing through improved energy efficiency and the exploration of technology to support independent living for a range of needs, and ensure a Just Transition to Net -Zero.
As a large employer of 148 within the community, SBHA’s ambitious growth plans will support further job creation locally as it looks to support the growth of regional supply chains
Julia Mulloy SBHA Chief Executive, said: “The flexibility of our deal terms opens new doors for our business as we look to enhance our current offering for the future and contribute to the economic recovery of the Scottish Borders with more much-needed affordable homes. It’s the beginning of what we hope will be a long and trusted partnership with Royal Bank of Scotland as it supports us with our continued commitment to enhance wellbeing, lives and communities across the Scottish Borders and shape our homes and services to meet changing needs and expectations.”