The facility, which builds upon a 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 money will make sure that the Association continues to deliver much-needed reasonable social and rented houses. The housing is across North/East Ayrshire and Dumfries and Galloway. My thanks to all the teams who worked very hard to make sure the project was finished.”
The arrangement with CHA 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 member of RBS, the bank is delighted to give the association an extra £15m of funding. Which will deliver energy-efficient, modern homes for the social rent sector. We expect great things while working with the association in the years ahead as they deliver this much-needed development programme.”
And added:
“As a bank, we are 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 make sure that the Association delivers much needed reasonable social rented housing in North/East Ayrshire and Dumfries & Galloway. My thanks to all the teams who worked very hard to make sure the are finished.”
FRANK SWEENEY, Chief Exec, Cunninghame Housing