Housing association borrows £50m to build hundreds more homes

South Yorkshire Housing Association has borrowed a total of £50m to build 620 new homes and insulate other properties.

The organisation, which is headquartered in Sheffield, says it will build these houses over the next five years.

And it will also use the cash – made available via a package from NatWest – to implement plans to achieve zero carbon across its 6,000 properties.

Robert Young, finance director at South Yorkshire Housing Association, said: “Ultimately, we serve local communities by building properties that create genuine social value, and this funding package from NatWest is really helping us bring our vision to life.

“We hope to enhance local communities by delivering on our promise to provide sustainable homes at affordable rents.

“The bank’s backing is also helping us transition towards decarbonisation, in line with national targets of becoming carbon zero by 2050.

“This can only be achieved through the creation of truly sustainable properties, and we will look to deliver this by adding to our portfolio and upgrading our existing properties.”