FIFE Housing Group has secured a £65 million funding package to help build ‘much-needed’ new homes in the area.
The deal, with Royal Bank of Scotland, will also allow the group to refinance its current debt and increase investment in its housing stock.
Fife Housing Group has almost 2,500 properties in Fife. Royal Bank of Scotland said this finance package will contribute to the delivery of more than 90 new homes over the next two years, with the organisation looking at a number of potential locations.
Nicki Donaldson, chief executive at Fife Housing Group said, “We are delighted to have secured this funding from Royal Bank of Scotland, which gives us the opportunity to further the aspirations we have for the business, and we look forward to working with the Bank to deliver the new homes required to meet the ever-increasing demand for affordable housing.”
David Horne, relationship manager at Royal Bank of Scotland added, “Fife Housing Group plays an important role in tackling the affordable housing shortage in Scotland and Royal Bank of Scotland is proud to be able to support the business as it continues to create homes which are in such high demand.”