Maidstone-based housing association Golding Homes has successfully renegotiated changes to agreements with its funders and investors to increase investment into existing homes.
This enables the delivery of the Board-approved asset management strategy to spend £60m over the next three years to invest in improving its existing homes and help deliver significant benefits to its customers.
Finance Director David Hart said: “Getting these deals over the line is a fantastic achievement which will deliver our robust asset management strategy so that we can make a real and lasting difference to our customers.
“Some of this work is already underway; homes are getting new roofs, kitchens, bathrooms, and replacement doors and windows. These improvements will transform the environmental performance of these homes and help reduce energy use and costs for customers.
“Successfully securing these revised agreements with Barclays, Lloyds Bank, NatWest, and Santander UK is a wonderful achievement and we’re thrilled. It’s a testament to the strong, positive partnerships we have with our funders, and I’d like to thank everyone who’s worked so hard for many months to make it happen, including our solicitors Anthony Collins and my inhouse team.”
Kathrin Nash, Relationship Director, Barclays, said: “As always, it has been an absolute pleasure to work with the Finance team at Golding Homes on this strategic covenant relaxation to enable the association to undertake its important asset management strategy over the next few years. Barclays enjoys a strong relationship with Golding Homes and is proud to be a strategic partner of the association. This is another example of our renewed focus on supporting and lending to more businesses across the UK.”
Chris Yau, Relationship Director Lloyds Bank, said: “Everyone deserves access to a safe, energy efficient and lasting home and so we are proud to support Golding Homes – as one of the largest landlords in Kent – in its efforts to provide good quality social housing to the local community.”
Dean Holleyman, Director of Housing Finance, Commercial and Institutional, at NatWest said: “We’re pleased to offer Golding Homes a structure that allows for greater investment in its properties. We’re committed to supporting the creation of more affordable homes while ensuring that existing houses become more sustainable. It’s great news that Golding will deliver new homes, while people currently living in their properties will be able to enjoy more environmentally friendly homes.”
Aradhna Lawson, Senior Relationship Director at Santander UK, said: “We are delighted to have been able to support Golding Homes through this process which will unlock additional capacity to invest in their homes for residents. We look forward to continuing to work together in the future.”
Golding customer Steve said this about his new roof: “I moved in six months ago and am really happy here. I’m really pleased that the roof’s being done. They always let me know what’s going on and I hope it’ll make the house warmer come winter.”
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