£50m to fund new homes
We’ve secured an additional £50m in loans from the Affordable Homes Guarantee Scheme (AHGS).
The money will help us on our way to build 1,850 new affordable homes across the East Midlands, over the next five years.
The AHGS is backed by the government and offers the best value funding for housing associations. It offers lower interest rates, and we’re thrilled to have been accepted for a loan for the second time.
The fund opened in 2020 and we were one of the first housing associations to be awarded funds. This time we’ve chosen to take the loan out for 10 years instead of 30; it’ll save us hundreds of thousands of pounds in interest payments.
Naomi Dobraszczyc, our Director of Finance and Resources, comments: “In this time of housing need, we’re committed to providing more affordable homes for our communities. This is NCHA’s second round of funding from the AHGS scheme. 'The excellent value from this loan will support our work and help us deliver new homes to people who need them the most.”
The AHGS is funded by a capital markets bond programme and guaranteed by the Department for Levelling Up, Housing and Communities. The scheme is managed by ARA Venn on behalf of the government.