Updated 06.05.16
Helm and Fold HAs to Merge
The boards of Northern Ireland housing associations Helm and Fold have approved proposals in principle to create a new association through merger. The proposal is still subject to final approval in September, following completion of all the necessary checks.
It is not expected that the new organisation will be in place until early 2017, and over the next few months staff will engage with tenants, and other key stakeholders, to discuss and explain the proposals in detail.
The new 12,000 homes organisation will have the ability and the resources to improve core services for tenants, to increase the supply of new homes for those in housing need, and to increase investment in our local communities.
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Network Housing Group is Now Network Homes
As from 3rd May, Network Housing Group has been consolidated into Network Homes.
In 2015, Network consulted residents about bringing together the different housing associations within Network Housing Group (Network Stadium, Riversmead, Community Trust Housing and London Strategic Housing) to become a single charitable housing association called Network Homes.
Network decided to consolidate its group structure in response to major changes in the operating environment for housing associations, including large cuts in government grants to build new affordable homes, uncertainties in rental revenue streams because of welfare reforms and the 1% social housing rent cut for the next four years, and greater commercial risks.
The Government's social housing regulator, the Homes and Communities Agency, is also placing much stronger emphasis on assessing Value for Money and efficiency within housing associations.
Simplifying the organisational structure will help Network Homes work more efficiently and effectively. It will also help keep costs down for residents.
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Strong Investor Demand as L&Q Raises £300m on Bond Market
L&Q has raised £300 million via a bond issue priced at Gilts plus a spread of 1.07%.
The S&P AA and Moody's A1 rated 10-year secured bond was 3.3 times over-subscribed, with the order book reaching £1 billion. With a coupon payable at 2.625%, this transaction demonstrates the continued strong support from high quality investors for L&Q, and the wider housing association sector.
The finance will be used to help fund L&Q's corporate strategy that focuses on financial strength and growth, customer service, business excellence and our people.
