Section: Housing Finance

Pension Insurance Corporation invests £40m in Greatwell Homes HA

Posted 08.04.19
Pension Insurance Corporation: Further reading

Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension funds, has invested £40 million in debt issued by Greatwell Homes.

The funds will be used to develop 600 new affordable homes in the county.

Key aspects of the transaction are:

Greatwell Homes, which owns or manages more than 4,500 housing units in and around Northhamptonshire, has been running since 2007, when Wellingborough Council transferred its housing stock to the housing association.

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Mayor offers £200m to protect affordable homebuilding through Brexit

Posted 02.04.19
Mayor of London: Further reading

The Mayor of London, Sadiq Khan, is providing housing associations across the Capital with an extra £200 million to ensure the continued building of affordable housing despite the impact of Brexit.

The continuing Brexit negotiations are already affecting the housing market, with falling sales and uncertainty over house prices.

This is having a knock-on effect on housing associations, who currently receive low levels of funding from Government and therefore rely heavily on income from selling new market-price homes to help subsidise new affordable homes.

Faced with a slow-down of new home sales, the Mayor will help housing associations by offering extra funding to switch homes from market sale or shared ownership to homes for rent at social or intermediate rent levels which are lower than market rent.

This extra funding will enable them to commit to their future plans, sign construction contracts, and begin development without further delay.

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Reporting on April 2019

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