£100m for more homes and better lives

We’ve secured a new loan of £100m from the Affordable Homes Guarantee Scheme (AHGS). It’s going to make a big difference in helping us to achieve our vision of: ‘More homes, great services and better lives’.

The money will be used to build new affordable homes, and - for the first time – we’ll also be using it to make improvements to some of our existing homes. 

We plan to build 1,850 new homes over the next five years, and this new loan will fund 450 of them.  £30m will be spent on existing home improvements across the next six years. Additional plans include energy saving measures, improvements to the warmth of our homes and new kitchens and bathrooms.

The AHGS is backed by the government and offers the best value funding for housing associations. It offers lower interest rates, and this is NCHA’s third round of funding from the scheme.

Naomi Dobraszczyc, our Director of Finance and Resources, comments:

“Our new loan will enable us to deliver on our corporate plans over the coming years. The AHGS scheme offers fantastic value, helping us to do more for our customers. I am very pleased that the scheme has recently been expanded; it means that it can now be used to fund existing improvements as well as new homes, so more of our customers will benefit.” 

The AHGS is funded by a capital markets bond programme and guaranteed by the Ministry of Housing, Communities and Local Government (MHCLG). The scheme is managed by Venn Partners on behalf of the government.