Housing group secures £135m to support major development programme

Platform Housing Group has secured a £135m funding package to support one of the UK’s largest social housing development programmes.

The group is one of the region’s biggest social housing providers, managing more than 45,000 affordable homes in the Midlands and Lincolnshire following a merger between Fortis Living and Waterloo Housing in late 2018.

The group has recently outlined plans to build 18,000 affordable properties over the next 10 years, including a range of one- to four-bedroom houses, flats and bungalows.

The development programme will now be supported in part by the funding package from Lloyds Bank, which has previously provided banking facilities to Waterloo Housing and Fortis Living.

Andy Howarth, group finance director at Platform Housing Group, said: “Our development programme is one of the most ambitious in the sector and will enable us to support thousands of people across the region by providing much-needed and high-quality affordable housing.

“Lloyds Bank worked with both Fortis Living and Waterloo Housing, so it was logical to select them as banking partner for Platform Housing Group. The team has deep sector expertise and understands our business and its vision.”

Platform Housing Group provides housing to more than 120,000 customers and employs 1,200 members of staff in Worcester.

Jatinder Dhaliwal, relationship director at Lloyds Bank Commercial Banking, said: “Demand for housing has hit an all-time high in recent years. Platform Housing Group will take on a key role in tackling increased housing pressures in the region with 18,000 new properties.

“As one of the UK’s leading lenders to the sector, we’re proud to be supporting housing associations like Platform Housing Group in providing high-quality, affordable homes across the UK. Our support forms part of our commitment to helping Britain prosper and we’ve pledged to support Midlands businesses with up to £2.5billion of lending in 2019.”

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