The facility, which builds upon an existing relationship with the bank, will fund 236 new homes. This will span across the West of Scotland. It will see socially rented properties constructed in North and East Ayrshire as well as Dumfries and Galloway.
Frank Sweeney, group chief executive said:
“The funding will make sure that the Association continues to deliver much-needed reasonable social and rented housing. The housing is across North/East Ayrshire and Dumfries and Galloway. My thanks to all the respective teams who worked very hard to make sure the project was finished.”
The arrangement with Cunninghame Housing Association is one of RBS’s most significant deals within the Scottish housing association sector for 2020.
Alan Newlands, director of housing finance, commercial and private banking at RBS, added:
“Supporting the delivery and maintenance of housing in Scotland is vital to both the economy and importantly, families and individuals. As a longstanding customer of Royal Bank of Scotland, the bank is delighted to give CHA an extra £15m of funding. Which will deliver energy-efficient, modern homes for the social rent sector, and we look forward to working with the association in the years ahead as they deliver this much-needed development programme.”
“As a bank, we are acutely conscious of the impact that the COVID-19 crisis. It is impacting people and businesses, and we view housing as a critical sector for us to support.”
“The funding will ensure that the Association continues to deliver much needed affordable social rented housing in North/East Ayrshire and Dumfries and Galloway. My thanks to all the respective teams who worked very hard to ensure completion.”
FRANK SWEENEY, Chief Exec, Cunninghame Housing