Bradford & Bingley has signed 拢55m of loans with three associations.
Existing customers Lee Housing Association and Axiom Housing Association and new client Community Housing Association will use the loans for development work.

North London-based Lee has increased its facilities with the building society from 拢1m to 拢2m.

Peterborough-based Axiom has upped its loan by 拢4m to 拢7m.

Community, also based in north London, has taken out a 拢50m loan. Its finance director Paul Coates said the money would go into the association's expanding development programme. Community currently has 500 units in development but will double that over three years.

Coates said: "The programme includes general needs housing, shared ownership and homeless families initiatives.

"Under the homeless families scheme, we buy properties on the open market, do them up and get them into management."

Source

Housing Today