Triodos Bank reaches £250m social housing lending milestone
In the last year Triodos Bank has arranged lending facilities totalling more than £25m to seven different housing association customers across the UK, making it one of its fastest growing lending areas in the UK in recent years.
Funded solely by savers and investors who want to see the funds they entrust with the bank lent to organisations delivering social, environmental or cultural impact, the bank believes social housing fits well with its mission.
The new facilities completed are to a range of new and existing housing association customers, and include the following: £5.7m to Glen Housing Association in Fife; £1.4m to Wyedean Housing in the Forest of Dean; £7m to Solon Southwest Housing in Bristol; £4m to Cornwall Rural Housing; £0.4m to Wiltshire Rural Housing; £2m to Vectis on the Isle of Wight and £5m to Bournemouth Churches Housing Association.
Peter Borgers, senior relationship manager at Triodos Bank, said: “When we first stepped up our lending to the sector in early 2009, we had commitments in place of less than £10m, so to reach the milestone of £250m this year is really pleasing. Social housing continues to be an important lending area for the bank in the UK; housing associations are key to tackling the UK’s housing crisis and we are keen to continue supporting the sector.
“We generally look to provide first time facilities in the range of £1m to £10m, and we particularly like those associations that have a strong local and community focus; this might be in rural communities or in urban locations, or with roots in BME communities. We also like associations that provide specialist support in areas such as health and social care, or special needs provision.”