West Yorkshire housing association Incommunities has agreed to a £110m funding deal with NatWest to support future investment and expansion plans.
The housing provider, based in Shipley, is embarking on plans to build up to 1,500 affordable homes over the next five years. Funding will also be used to support investment into Incommunities’ current housing portfolio which is made up of more than 22,000 properties.
The package from NatWest includes an additional £50m Revolving Credit Facility.
Andrew Dexter, Relationship Manager, Corporate Real Estate Finance at NatWest, said: “We are delighted to increase and extend our lending relationship to Incommunities.
“The management team at Incommunities are committed to providing quality housing across West Yorkshire and the new funding will enable Incommunities to create desirable housing in a range of communities across the region.”
Chatham Financials, Devonshires and Pinsent Masons supported the latest funding deal.
John Wright, Executive Director of Finance, Incommunties, said: “We are pleased to have continued our long-standing relationship with NatWest as a key funding partner.
“Securing this additional £50m funding is a major landmark for Incommunties and will help us to achieve our ambitions to provide safe, good quality and affordable homes that meet the needs of people across the region, creating places where people want to live.”
