New finance deal helps secure more new affordable homes in Kent
Golding Homes, one of the South East’s largest housing providers, aims to build more new affordable homes in Kent as part of its development pipeline, with the goal to have 8,000 homes in its ownership by 2021.
Based in Maidstone, the housing provider has set out ambitious plans thanks to a new £100m credit facility secured with NatWest and additional funding of £20m from Santander.
Golding Homes owns and manages over 7,650 homes in Kent and provides services to more than 20,000 people. The additional credit funding has already played an important part in Golding’s latest development plan, with the organisation recently entering into contract with three major UK developers to provide 164 homes across five new housing schemes.
Neil Perrins, Director of Resources at Golding Homes, said: “I am delighted that through our partnerships with Santander and Natwest we have been able to secure £120m of new credit facilities, while restructuring existing Finance to reduce our costs. The new facilities support our development programme, building hundreds of new homes every year. As a social landlord we have ambitions to grow, meeting the high demand for quality affordable housing and creating homes and communities for people who need them most. This funding will allow us to do that.”
NatWest provided a tailored finance package consisting of a term loan and revolving credit facility worth £100m. Golding was also able to renegotiate some existing debt to get better value for money and secure additional funding of £20m with Santander, the largest lender to the housing provider.
Dean Holleyman, Director of Housing Finance at NatWest said: “By supporting Golding Homes in this project, we’re excited to be part of its plans to build more affordable homes in Kent. We realise the importance of making this journey more accessible to people from all walks to life when searching for the perfect property.”
Aradhna Lawson, Relationship Director at Santander UK said: “We have provided funding to Golding Homes since 2004 and are delighted to strengthen the relationship by providing additional funding to support the development of affordable homes in Kent.”
As a profit for purpose organisation, all profits are invested back into building more new homes, improving existing housing stock and providing services to customers and the wider community.
Golding Homes is an award-winning housing association which owns and manages over 7,650 homes in Kent. Established in 2004, it has completed over 1,350 new properties, providing homes for over 20,000 people in eight local authority areas, invested over £150m in large scale regeneration projects and supported its residents through a £3.5m community investment programme.
For further information contact PR & Communications team at Golding Homes via firstname.lastname@example.org