DANSKE Bank has announced a £50 million funding package with Irwell Valley Homes to deliver a number of new affordable housing projects in England over the next five years.
The not-for-profit housing association currently provides homes and services for over 16,000 people across Greater Manchester.
The lender said the financial facility will help deliver 1,260 new affordable homes, for social and affordable rent, plus supported housing.
Around 260 of the new homes are already on site or have received planning approval, with a further 1,000 in the future pipeline of the development programme.
Mark Canning, head of the corporate relationship team at Danske Bank, said: “Danske Bank has been the lead bank provider of finance to the social housing sector in Northern Ireland for many years.
“We are delighted to start 2021 with a significant transaction in England. As part of our strategic growth plans we will be more active in helping the sector across the rest of the UK moving forward.”
Danske Bank said as part of its strategic growth plans, it is seeking new opportunities in the rest of the UK in a small number of sectors, including social housing.
Helen Nicholson from Irwell Valley Homes said: We are delighted to have secured this funding to deliver our key strategic goal of building more homes to meet the growing needs of the communities we serve.
“Importantly, the terms agreed with Danske Bank will enable us to carry out fire remedial work on existing sites over the next few years. Danske Bank have been flexible and easy to work with and we have built a good relationship with them.”
