Northamptonshire housing association Greatwell Homes secures £70m funding to support increased investment in existing and new homes

Greatwell Homes, which manages around 5,200 homes across North Northamptonshire, will use the increased financial capacity to re-invest in their existing homes, ensuring they are safe and a place their customers are proud to call home.

The loans will also contribute to much-needed new homes within Northamptonshire – including their flagship extra care scheme, Dappletree Court, which is due to be completed in March 2027.

The housing association partnered with treasury advisors, David Tolson Partnership, JLL, in regard to valuations for loan security and legal advisors, Trowers & Hamlins to agree the new loan facilities.

The housing association agreed the £45 million revolving credit facility for five years from Barclays UK Corporate Bank, continuing their long-standing relationship.

An additional £25 million loan from NatWest, a new funder to Greatwell Homes, was accepted for a term of 10 years.

Julie Robinson, executive director at Greatwell Homes, said: “We believe that everyone deserves to have a home where they can feel safe and secure.

"The communities we serve need more new homes – properties that are attractive, flexible and fit for the future.

"Alongside supporting our building programme, this funding will allow us to invest more in existing homes so that they remain up to date, well maintained and suitable for people’s needs.

“We received some very competitive offers from a variety of lenders and we’re glad to have been supported by David Tolson Partnership, JLL and Trowers & Hamlins during this process.

“We’re delighted to be continuing our long-standing partnership with Barclays, and we also look forward to building a new relationship with NatWest, both of which will ensure we can deliver on our future plans.”

Neil Hetherington, relationship director at Barclays UK Corporate Bank, said: “We are pleased to extend our lending commitment to Greatwell Homes, a long-standing Barclays client.

"This facility will support their ambition to deliver homes fit for the future through continued investment in existing homes and the development of much needed new affordable housing.”

Dean Holleyman, director of housing finance England & Wales at NatWest, said: “NatWest is pleased to support Greatwell Homes with this new funding facility.

"As a committed lender to housing associations across the UK, we are proud to back organisations that are investing in the quality and supply of affordable homes.

"This funding will help Greatwell Homes continue their work to improve existing properties and deliver new housing across Northamptonshire.”

Greatwell Homes’ flagship scheme Dappletree Court is also supported by a £4.8 million grant from Homes England.