Housing group secures £10m financial backing from Lloyds Bank

Manchester-based supported housing landlord, Golden Lane Housing (GLH) has secured further financial backing to help it continue its growth ambitions.

Lloyds has become the latest bank to support GLH by providing it with a £10m Revolving Credit Facility.

GLH provides homes for people with a learning disability and autistic people and the funds will be used to support the association’s ongoing investment in creating new housing across England, Wales and Northern Ireland. Other areas of focus planned by the organisation include ongoing portfolio investment.

Providing homes for more than 2,800 tenants across England, Wales and Northern Ireland, GLH helps to tackle the challenges that people with a learning disability and autistic people face in finding a home.

Each year it houses more than 250 people and finds innovative ways to provide suitable and much needed housing solutions.

John Verge, GLH CEO, said: “We have ambitious growth plans to ensure we can play our part in meeting the ever-growing need for supported housing across the country. The financial backing from Lloyds helps us to invest in the development of much needed homes, make improvements to existing properties, and more.”

Dave Brigden, head of social and supported housing at Lloyds, said: “Social and supported housing is an integral part of the UK’s housing landscape and we are proud to have provided more than £19.5bn of funding to the sector since 2018.

“We believe that everyone should have access to a stable, secure and affordable home, and we are proud to assist Golden Lane Housing in its work to ensure its residents are supported to live independently.”

GLH received £10m of funding from NatWest for the development and growth of its portfolio in November last year.

Established by Mencap in 1998, GLH was set up as a charitable limited company and subsidiary of the Royal Mencap Society, becoming an independent, Community Benefit Society in April 2022.