Thursday, May 11, 2023
Dunfermline Building Society in social housing deals
Dunfermline Building Society has secured two further social housing deals totalling almost £40 million, including its largest-ever loan to a single organisation. Dumfermline, established in 1869, was the first Scottish lender to enter the market for lending on social housing.
In the first deal, the society has agreed a loan to Dunedin Canmore Housing Association, in a syndicate with Royal Bank of Scotland and Lloyds TSB. Each lender has put forward £30m. The second deal is for £8.3m to New Gorbals Housing Association in Glasgow.
The DCHA's programme of regeneration includes Oxgangs and Hyvots Moredun, alongside a planned new build and acquisition of around 300 homes per year. The deals take Dunfermline's total commitment for 2006 to about £60m from 11 projects. Last year it committed just under £100m.
In the first deal, the society has agreed a loan to Dunedin Canmore Housing Association, in a syndicate with Royal Bank of Scotland and Lloyds TSB. Each lender has put forward £30m. The second deal is for £8.3m to New Gorbals Housing Association in Glasgow.
The DCHA's programme of regeneration includes Oxgangs and Hyvots Moredun, alongside a planned new build and acquisition of around 300 homes per year. The deals take Dunfermline's total commitment for 2006 to about £60m from 11 projects. Last year it committed just under £100m.
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