Posted 17.01.13
Legal & General (L&G) announced that it has appointed Alex Gipson to originate and underwrite loans within its commercial lending team, as its looks for finance opportunities within the social housing sector, further bolstering its in-house debt capabilities and enabling it to make additional in-roads into the significant funding gap left by the banks.
Alex Gipson joins from the The Royal Bank of Scotland, where he spent over 27 years, latterly holding the position of Director of Housing Finance within the Structured Finance team. There he was responsible for origination, structuring and execution of all new affordable housing transactions, as well as in the delivery of complex funding solutions for existing clients.
Some notable transactions that he was involved in included funding the first project undertaken by English Partnerships under the LondonWide Initiative programme, Forest Gate Housing PFI and a significant number of local authority stock transfers.
He joins the three-strong commercial lending team that makes up Legal & General Investment Management's (LGIM) Commercial Lending Ltd (CLL) business.
Posted 25.01.13
The Welsh Government has allocated £4 million a year for the next 30 years, which will enable over £100 million to be borrowed by housing associations to support the development of more than 1,000 new affordable homes.
Sites and developments that will be supported by the scheme, which is called Social Housing Revenue Grant, have been identified across all 22 local authorities and the new homes will be completed by 2016.
19 Welsh housing associations will participate in the scheme.
