Broadacres Housing Association has secured a £106.7 million funding package from NatWest Group to support new housing development and future investment across North Yorkshire and surrounding areas.
The Northallerton-based housing association said the funding would help deliver its ambitious development programme and support ongoing liquidity requirements as it continues to expand its operations.
The package includes a Social Loan through NatWest’s £1 billion commitment to the housing sector, aimed at helping not-for-profit housing providers deliver more affordable homes through discounted financing.
Broadacres currently owns and manages more than 6,800 homes across North Yorkshire and neighbouring areas and says the investment will help tackle the continuing shortage of affordable housing in the region.
Andrew Dexter, real estate finance director at NatWest, said the deal reflected Broadacres’ long-term commitment to supporting communities.
He said: “Broadacres Housing Association has a thirty-year history of making a real difference, and this new agreement is a testament to their forward-thinking approach.
“We are particularly proud that this package includes a Social Loan from our financing commitment, a perfect fit for an organisation so dedicated to community benefit.
“By providing discounted funding, we aim to help partners like Broadacres make the development of social housing more viable.”
Andrew McColl, director of resources at Broadacres Housing Association, described the agreement as a “landmark moment” for the organisation.
He said: “Since our formation, our core mission has been to develop homes and support our communities across North Yorkshire.
“This funding package is a landmark moment for us. Securing a NatWest Social Loan gives us the confidence and financial capacity to deliver our development programme and continue our vital work providing safe, secure and affordable homes.”
Broadacres was established in 1993 following a housing stock transfer from the former Hambleton District Council and has since become one of the region’s largest housing associations.
The organisation said the additional investment would directly support efforts to increase the supply of affordable housing while continuing its wider community work across rural and urban areas of North Yorkshire.
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