THFC secures record housing regeneration loan
Published: 11 December, 2009
LONDON: The Housing Finance Corporation (THFC) signed the largest ever housing regeneration facility for £345m with the European Investment Bank.
The loan was signed at what is also believed to be another first, a meeting of the British Irish Council which took place in Newcastle, County Down. It was attended by all four senior housing ministers from England, Scotland, Northern Ireland and Wales.
The deal being signed between THFC and EIB is is the largest housing regeneration loan ever completed by EIB in Europe.
In the wake of banks and building societies drawing in their horns and lending less for more, this facility to housing associations provides 20-30 year funding for local regeneration schemes.
The facility draws on THFC's ability to identify local community regeneration schemes across the nation. Funded schemes are by no means confined to the largest cities and stretch from Dundee through Holyhead, Londonderry, Newry, Penzance to Luton and Harlow. In all, some 35 housing associations will benefit from this facility.