Housing association Plus Dane Housing has secured a five-year, £60m loan facility from HSBC UK to support the maintenance of its exiting homes.
HSBC has become the housing association’s new strategic lender and Plus Dane Housing will use the cash to invest in existing homes, while also supporting its growth targets.
Scott Owen, head of treasury at Plus Dane, said: “Last year, our board challenged us to secure good-value funding to deliver the 2025-26 business plan and maintain liquidity through to our next scheduled refinancing in April 2027.
“With the assistance from [advisers] Centrus and Devonshire’s legal team, securing HSBC UK as a new strategic lender, with a five-year, £60m loan facility at competitive rates, ensures we are in a great position to deliver our future plans.
“The strategic deal and financing is a strong endorsement of our financial position and delivers good value for money for Plus Dane customers.”
David Whelan, director of social housing at HSBC UK, added: “It’s fantastic to welcome Plus Dane as a new HSBC UK customer with a new loan facility that will help support the group’s continued focus on investment in existing homes alongside their development ambitions.”
In December, LendInvest Mortgages launched a new long-term development finance funding partnership with HSBC and AB CarVal, with an initial £175m of senior capital.
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