Berwickshire Housing Association secures funding for affordable homes

BERWICKSHIRE Housing Association has announced a new partnership with Allia C&C to support the financing of their ongoing development programmes for affordable housing across Berwickshire.

The £5 million bond will support the completion of two new housing developments within the area. The first phase of development at Springfield in Duns consists of 29 affordable homes including a mx of house types comprising of four cottage flats, 16 two-bedroomed houses and nine three-bedroomed homes.

The second site, in Ayton, will provide 31 new homes in its first phase. These will be a mix of bungalows, wheelchair access properties and family homes including three and four bedroomed houses.

Berwickshire Housing Association said that the developments will help meet the demand for affordable housing and address the housing needs of the area. They have promised that the homes will be of modern and spacious design and will have standards of insulation.

Eleanor Rooke, Finance Director of Berwickshire Housing Association, said, “We are thrilled to have secured support from Allia C&C for these two development projects. The Springfield and Ayton developments will deliver 60 much needed affordable homes in the area. The Allia funding model is well aligned to our long term business plan and the process of obtaining the bond was efficient and straightforward, with excellent support from the Allia team.”

Daniel Carrico, head of origination at Allia C&C, added, “We’re really pleased to be working with Berwickshire Housing Association on this project. This is the first loan to be issued in the 2020/21 programme, which has a £40 million investment from the Scottish Government. We’re looking forward to supporting more housing associations in their development of affordable housing this year and creating further social impact.”