Posted on 09 March 2021
Cross Keys Homes has secured £50m in funding from NatWest to build 2,900 new homes by 2025.
Cross Keys Homes (CKH) will use the money to build more homes for affordable rent and shared ownership across 12 local authorities in the East of England.
The finance package is one of the first SONIA (Sterling Overnight Index Average) funded loans, a risk-free loan, secured in the housing association sector. The funding forms part of NatWest’s commitment to support housing associations in building new homes and improving existing ones, with £3bn of finance available over the next three years.
CKH’s Chief Executive, Claire Higgins, said: “This money means we can deliver on our commitment to build good quality, affordable homes that people in the East of England want to live in. These will be available for everyone, from families looking for affordable homes to rent to those trying to get on the housing ladder through shared ownership."