Scroll Top

settle agrees extended £125mn funding package

Housing association settle has secured an additional £50mn funding as part of a lending package from Santander UK now worth £125mn.
Ebele Akojie

settle has extended its existing revolving credit facility (RCF) with Santander UK for a further five years. As part of the deal, settle and Santander UK have simplified the covenant structure within the agreement, enabling further capacity for settle to invest in existing and new homes.

settle provides services to 23,000 residents in more than 10,000 homes across Hertfordshire, Bedfordshire, Buckinghamshire and South Cambridgeshire. The additional funding will be used to develop new affordable homes and to improve existing properties, including enhancing energy efficiency.

Ebele Akojie, Executive Director of Finance and Resources at settle said: “This is an important agreement for settle. Funding of this scale from Santander UK is a major vote of confidence in our ability to deliver our strategic ambitions. This additional facility will allow us to continue our commitments to increase the supply of affordable homes in the areas in which we work, and to invest in existing homes and neighbourhoods that are great places to live.”

Roy Cavill, Relationship Director at Santander UK, said: “Having supported settle for more than a decade, we are delighted to provide the housing association with this additional funding which is tailored specifically to help it achieve its strategic ambitions. Not only will it be used to improve existing homes, including enhancing their energy efficiency, but it will also support the delivery of affordable new homes in the community.”

Related Posts