Equity Housing secures £55m refinancing deal

Equity Housing, the Stockport-based housing association, has secured a £55m refinancing package which it said would give it the resources it needs to build more than 800 homes over the next five years.

Arranged by Savills, the deal sees an existing loan of £20m loan with NatWest extended and a further £35m of additional loans taken on from the same bank.

Equity manages nearly 5,000 homes across the north west of England.

Andy Oldale, Equity’s deputy group chief executive, said: “The communities in our areas of operation expect that, as a charitable organisation supported by public funding, we will maximise our efforts to meet housing need in the areas where we work.

“As a housing association with dispersed stock and a strong development performance, we believe we can best serve communities by building local, new affordable homes. This deal absolutely helps us deliver on these aims on behalf of our communities.”