Affordable and social housing provider MTVH has secured a further £250m in funding from NatWest to support the delivery of new homes and community initiatives.
The funding package, which comprises a 10-year term loan and a three-year revolving credit facility, has been used to refinance existing debt while providing additional capital to deliver new homes and support the organisation’s long-term business plan.
MTVH aims to deliver 6,000 new homes as part of its MTVH 2030 strategy and currently has around 4,000 homes on site across its development programme.
Duncan Brown, chief financial officer at Metropolitan Thames Valley Housing (MTVH), said: “Following a record year for development at MTVH, alongside increased investment in our existing homes, this partnership with NatWest strengthens our ability to deliver the affordable homes the country needs while continuing to invest in our existing homes.”
John Horton, relationship director at NatWest, added: “Social housing and infrastructure more generally is vital to our customers, communities and businesses alike. Access to good quality, affordable housing means local people have a secure, safe space they can call home, while local businesses benefit by having a community they can look to when they’re recruiting.
“MTVH has a strong track record of delivering for its residents and communities. We’re proud to partner with them in their mission to increase the supply of high quality affordable housing, while delivering growth to local areas.”
