We secure multi-million-pound funding for new homes and modernisation
We’ll be moving forward with plans to build approximately 1,000 new affordable homes by 2026 after securing eight-figure funding.
We’ll use the £65 million funding package from NatWest to grow our existing portfolio of more than 16,000 homes and support the modernisation of our existing homes
The majority of the new homes will be let at affordable rent – with shared ownership homes also being developed – in Plymouth and surrounding areas.
Nick Jackson, Director of Business Services and Development at PCH, said: “Thanks to the funding from NatWest, we can both expand our portfolio of affordable homes, as well as ensuring we can invest in bringing our existing homes up to a more modern environmentally-friendly standard and continue the great services we offer.
“We will improve our blocks of flats as well as support community initiatives, courses and training sessions which we believe are essential in supporting our residents and in creating thriving communities. The funding arrangements mean we’ll be able to undertake the modernisation of our blocks of flats with more flexibility.”
Dean Holleyman, NatWest Director, Housing Finance England and Wales, added: “We have worked with PCH since its inception in 2009. The investment and work that PCH has undertaken during this time has positively transformed both the lives of its tenants and communities it serves.
“We are rightly delighted and proud that our support for PCH will help them to continue this great work with further investment in its new and existing homes in Plymouth and the surrounding areas.”
The funding forms part of NatWest’s recent commitment to support the housing association sector with £3 billion of finance until the end of 2022. This will support the increase in the provision of social housing, as well as the improvement of existing properties.