Housing association secures £55m to build more homes
Selwood Housing, a not-for-profit housing association based in the South West, is planning to build 1,700 affordable and energy-efficient homes by 2034, supported by a £55m revolving credit facility from Lloyds Bank.
The loan enables Selwood Housing to access funding up to a predetermined limit over a specified period.
The housing association is committed to ensuring that all its homes achieve an EPC C rating or above by 2030, surpassing the government’s regulatory requirement of 2035, as part of its goal to achieve net zero by 2050. Currently, 75 per cent of its housing stock meets or exceeds an EPC C rating, and over 90 per cent of its new builds adhere to a minimum EPC B rating, a standard that Lloyds Bank’s funding will further support.
Since its inception in 2001, Selwood Housing has been a Lloyds Bank customer, now managing over 7,000 homes for rent and shared ownership across Bath, wider Somerset, and Wiltshire.
The organization is actively pursuing sustainability targets through a ‘fabric first’ approach in its development programs. This approach prioritizes energy efficiency from the property’s conception through the design and development stages, encompassing the selection of suitable core materials for doors, walls, and windows to meet requirements.
Mark Mayler, group finance director at Selwood Housing, said: “Our commitment to supplying affordable and sustainable housing to help revitalise our local communities remains at the heart of everything we do. Lloyds Bank has backed our vision from the very start and this latest support will ensure we can continue to make a real difference and tackle the housing challenge head-on in the South West for many years to come.”