Origin secures £50m of finance to build more than 1,000 homes
We’re excited to have secured £50m in funding to deliver more than 1,000 new homes over the next five years, 80% of which will be affordable. It will also allow us to fund improvements to our existing homes.
The new £50m facility has been signed with Danske Bank UK. Danske Bank is one of the largest bank providers of finance to the social housing sector in Northern Ireland and has said it currently has plans to be more active in the sector across the rest of the UK.
Gloria Yang, Deputy Chief Executive and Finance Director said: “This funding package will help us greatly with plans to deliver much-needed new stock to meet ongoing demand for social and affordable housing in the communities we serve in London and Hertfordshire”
“Housing is a long-term commitment, so it is important to us that we build new homes to meet future needs and continue to invest in homes that people are proud to live in. We believe good-quality affordable housing is a foundation for a successful life.”
“Danske Bank showed a great understanding of the social housing sector and really got to know the details of Origin’s long history. That the Danske Bank team shared the same passion for our social purpose and demonstrated their support for our mission really took the relationship beyond a simple commercial transaction for us.”
Mark Canning, head of the corporate relationship team at Danske Bank, said: “We are delighted to have been able to provide this funding to Origin Housing and we look forward to supporting the organisation’s growth and its programme to build new affordable housing over the next five years.