Worthing Homes has completed £150million of funding arrangements which underpin our corporate growth strategy to build 500 new homes over the next 5 years. These new homes will be a mixture of social and affordable rents together with shared ownership and outright sale.
New funding of £60million was arranged with Scottish Widows and £40million from THFC bLEND. These are both long term loans with fixed interest rates, so these protect the long term financial stability of the organisation.
In addition we extended our £50million Revolving Credit Facility with Lloyds. This is part of our commitment to putting people first to create a legacy of sustainable homes and communities.