Transfer of Dorset and Hampshire Homes Completed
Posted 04.09.12
The transfer of 98 homes in Dorset and Hampshire from Moat Housing Association to Sovereign Housing Association has been completed.
Sovereign and Moat have undertaken this transfer in order to ensure a more localised service to residents. The homes, the majority of which are leasehold and shared ownership properties, will be managed from Sovereign's Christchurch and Basingstoke offices.
Heather Bowman, Sovereign's Director of Housing and Communities, said:
"Sovereign has a great deal of experience in acquiring homes from other housing associations and of ensuring the transition is as smooth as possible for affected residents.
"Dorset and Hampshire are key areas for Sovereign. We already have more than 11,660 homes in this area, with plans to develop more. Because of this, residents, if they wish, can get involved and make a difference to their communities".
The transfer followed a formal six-week consultation phase, including face-to-face events, when residents were given the chance to find out more about what the handover would mean for them.
Moat's Chief Executive, Brian Johnson, said:
"These homes do not lie in one of our key local authority areas, and are some distance from the nearest Moat neighbourhood office. We therefore wanted to find the right provider, with a strong track record in housing, and a good local knowledge to take over their management.
"Sovereign fulfils these criteria, and will manage the properties from two local offices. Residents have welcomed the rationale behind our decision and we feel certain that Sovereign will deliver high quality, intuitive and customer-driven services to residents in the Dorset and Hampshire areas."
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Midland Heart Issues £150m Bond
Posted 14.09.12
Leading housing and care organisation Midland Heart has launched £150 million secured public bonds. Of this, £50 million bonds have been retained by Midland Heart and will be sold to investors in due course.
The issue spread was 196 basis points, the spread over gilts. There is no interest cover test for the bond which matures in September 2044 and was priced at cost of funds of 5.087%.
Midland Heart kept its funding options open throughout, which reduced risk and maintained competitive options for the best price.
The £100 million injection will fund its ambitious plans for major growth which will see Midland Heart develop a total of 2,400 affordable new homes by 2015.
Last year Midland Heart was awarded £39 million to deliver 1,685 new affordable homes across the East and West Midlands as part of the Government's Affordable Homes Programme through the Homes and Communities Agency. The bonds will fund this development pipeline.
