£180m bank support will lead to 1,100 more affordable homes

A North West housing association will develop an extra 1,100 affordable homes by 2025, after securing a £180m deal with NatWest Bank.

One Vision Housing, which currently owns and manages more than 13,600 homes across the North West, will also use the finance package to decarbonise existing properties.

The business, part of the Liverpool-based Sovini Group, seeks to build a better future through its development framework which aims to combat high housing costs through the delivery of good quality, affordable homes.

The Sovini Group is also committed to reducing its environmental impact and is striving towards net zero carbon emissions.

The finance package from NatWest will enable One Vision Housing to deliver more energy-efficient homes for local people, through retrofit decarbonisation projects to existing properties.

New build construction will take a ‘fabric first’ approach, with environmentally-efficient specifications from low carbon heating and sustainable drainage systems to smart meters, solar panels and charging points for electric vehicles.

Ian Mitchell, managing director of housing at The Sovini Group, said: “We are thrilled to have received this funding from NatWest, who share our vision of a better future for local communities.

“At the group we are driven by our mission to create opportunities and change lives, and this funding will enable hundreds of people to take their first step onto the property ladder while providing hundreds more with affordable quality rental properties.”

Martin Skinner, relationship manager, real estate finance at NatWest, said: “The work that One Vision Housing is doing to create more affordable and sustainable homes across the region is of vital importance, helping communities to thrive and creating sustainable homes for the future. We look forward to continuing to work closely with the One Vision team to provide the support they need.”