Housing association bags £75m to build raft of sustainable homes

Multi-regional housing association PA Housing has pledged to build a raft of new sustainable homes after securing £75m in funding from Lloyds Bank.

The properties will be built across the East Midlands, London and Surrey and comprise of a mix of social rent, affordable rental and shared ownership homes.

They will go beyond current energy-efficiency regulations for rented homes, with EPC ratings of at least B. The sustainable homes form part of PA Housing’s plan to meet net zero ahead of the Government’s 2050 target.

The housing association is also increasing the number of EPC A and B properties in its existing stock to help protect 70,000 residents from fuel poverty.

The body currently has a portfolio of 24,000 homes across the Midlands, London and the South East.

Simon Hatchman, resources director at PA Housing, said: “Our commitment to delivering homes in the 10-years up to 2030 remains strong, building further momentum after investing £229m in our properties over the last few years.

“Lloyds Bank’s continued support provides us with the financial flexibility to meet our development ambitions and to support thousands of residents by supplying homes that are fit for the future.”

Chris Yau, director of origination & sustainability, housing at Lloyds Bank, added: “PA Housing’s work to increase access to affordable and energy-efficient homes will provide better living standards for many people across the UK.

“Its development programme complements its community engagement, aimed at getting people into work, supporting entrepreneurs, and helping residents facing hardship.

“As the UK’s largest financial supporter of social housing, we’re proud to support PA Housing in delivering better, warmer homes for thousands of people across its operating regions.”