Housing loans on the up
Triodos Bank completes more than £10 million of new lending facilities to housing associations
12-11-2013 | Three new lending facilities totalling more than £10 million have boosted Triodos Bank's lending to housing associations, which is already the largest and fastest growing sector in the bank's UK loan portfolio.
"Our new facility will help First Choice further build on their invaluable work, which really improves the lives of the people they house and support."
Peter Borgers, Senior Relationship Manager at Triodos Bank
Triodos Bank has recently completed new lending facilities to existing customers Warwickshire Rural Housing (£2.5 million) and Northamptonshire Rural Housing (£2.8 million). These organisations both provide affordable homes in rural communities where housing needs are often acute.
It has also completed a £5 million facility to First Choice Housing Association, based in Penarth near Cardiff. First Choice is the only housing association in Wales which specialises in solely providing accommodation for people with learning disabilities. It manages 169 properties which provide 526 bedspaces, and this new facility will enable it to provide some 25 new homes over the next three years.
Peter Borgers, Senior Relationship Manager at Triodos Bank said, "Our new facility will help First Choice further build on their invaluable work, which really improves the lives of the people they house and support. It's a perfect match with Triodos Bank's mission. This has been a busy time for us in the social housing sector - we hope to complete between £40m and £50m of new facilities to the sector this year, and continue to see it as a key area of new lending growth."
Hilary Ryan, Chief Executive at First Choice said "We are delighted with the £5 million long-term facility with Triodos Bank which along with social housing grant from the Welsh Government will enable us to improve the lives and independence of some 75 people with learning disabilities. We look forward to working with Triodos with whom we have a strong ethical and social match."
Triodos Bank lends exclusively to organisations delivering social, cultural and environmental benefits. In the UK, social housing is the bank's largest and fastest growing area of lending, and it currently has in place close to £200 million of long-term lending facilities to 27 different housing association customers.
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About Triodos Bank
Triodos Bank only finances enterprises which create social, environmental or cultural added value. Key sectors include social housing, charities and social enterprises, renewable energy organic food and farming, and fair trade. Transparency is a core value and Triodos publishes details of every business it lends to. A range of personal savings accounts is offered, and full banking services are available for businesses and charities. Triodos Bank is an independent bank founded in the Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The UK office opened in 1995 and is based in Bristol. www.triodos.co.uk