A major housing association in the North has secured £77million in funding from a major bank to support its plans to build thousands of new homes and decarbonise its existing stock.
Housing in Millers Chase, York, where Yorkshire Housing is building new homes (Picture: Yorkshire Housing)
[email protected] secured £77m funding from NatWest to build new homes and decarbonise existing homes #UKhousing
Yorkshire Housing said it would use the money it got from NatWest to help it achieve its ambition to build up to 8,000 more homes by 2030.
The association, which manages 20,000 homes in 20 local communities, said it would also use the money to accelerate its efforts to decarbonise its older stock.
Yorkshire said it was upgrading properties with heat pumps, solar panels and other renewable energy technologies.
The landlord is aiming to become one of the first housing associations in the UK to completely phase out gas central heating and hot water systems in its new homes.
Its gas-free homes are expected to be built from fiscal year 2023-24.
Andy Oldale, Executive Director of Finance and Governance at Yorkshire Housing, said: “In the midst of the current cost of living crisis, it is more important than ever to provide affordable housing across Yorkshire.
“NatWest’s funding will allow us to build more homes and will also allow us to improve the energy efficiency of some of our existing homes to make them cheaper to live in,” he added.
“At a time of rising energy prices, this is vital for our customers [and] we are grateful to NatWest for sharing our vision to support the local community and create even more affordable housing in Yorkshire.
Andrew Dexter, director of property finance at NatWest, said the bank was “committed to supporting our customers, colleagues and communities in Yorkshire”, and was delighted to fund additional affordable and sustainable housing.