A £58 million facility has been secured by the Scottish Borders Housing Association (SBHA) from Royal Bank of Scotland, to support the delivery of 300 new homes over the next seven years whilst also investing in current homes.
Some 5,600 homes across the Scottish Borders are currently owned and managed by SBHA, from Skirling in the West to Yetholm in the East, and from Heriot in the North to Newcastleton in the South. Communities within the borders will be boosted by the 300 affordable home plan, with current new build sites in Peebles and Kelso already providing 18.
Chatham Financial, SBHA treasury advisors, supported the team to ensure the Association’s funding structure provided a best fit with short- and long-term aspirations. Alongside the new developments, the facility will support investment in current tenants’ homes – ensuring a smooth transition to Net Zero by future proofing through green technology.
In addition, these ambitious plans will create new jobs, adding to the 148 already employed by SBHA within the community, as it looks to support the growth of regional supply chains.
Julia Mulloy SBHA Chief Executive, said: “The flexibility of our deal terms opens new doors for our business as we look to enhance our current offering for the future and contribute to the economic recovery of the Scottish Borders with more much-needed affordable homes. It’s the beginning of what we hope will be a long and trusted partnership with Royal Bank of Scotland as it supports us with our continued commitment to enhance wellbeing, lives and communities across the Scottish Borders, and shape our homes and services to meet changing needs and expectations.”