Together Housing Group has secured a deal worth £50m from an RBS scheme to allow for significant sustainable upgrades to its portfolio of over 38,000 properties across Yorkshire, Lancashire, and the North Midlands.
The deal will allow THG to make proven sustainable retrofits such as the installation of ground and air source heat pumps as well as the replacement of cladding, roofs, and windows to its network of socially-rented properties across more than 30 local authorities.
The group is the first affordable housing association to secure funding of this nature as part new Green Housing Retrofit Loan pilot scheme from the Royal Bank of Scotland, part of the NatWest Group.
Mark Dunford, Executive Director of Finance and Commercial at Together Housing Group, said: “We’re proud of the progressive steps we’ve taken as an organisation so far towards achieving our ambitious Net Zero priorities and we are thrilled to be the first social housing association receive this valuable funding.
“Our Carbon Reduction strategy puts residents at the forefront as we strive to make essential retrofit adaptations to properties, ensuring they remain energy efficient for the benefit of current and future residents.
“We’re delighted to be working with The Royal Bank of Scotland once again to strengthen our long-standing relationship and continue to make climate change a priority for both organisations.”
Judith Cruickshank, Chair, Scotland Board, Royal Bank of Scotland, said: “This funding deal is a landmark for the sector and we’re proud to be the first lender to provide such support to the UK’s social housing industry.
“Together Housing Group provides safe, comfortable – and importantly, affordable – homes to over 80,000 families and individuals across the north of England who are all set to benefit from this new investment.
“Royal Bank is committed to supporting the UK’s social housing sector and we’re privileged to play a role in facilitating Together Housing Group’s continued growth.”
THG was first established in 2011 following the merger of six existing housing associations. The charitable social landlord now provides support services to over 80,000 people and is a major employer within the area with a team of more than 1,500 staff.
