Wandle has secured £55 million of funding from the Affordable Homes Guarantee Scheme (AHGS).
The fund will support the development of 94 homes across London for both Shared Ownership and Social Rent and will enable us to continue to invest in the continued safety and quality of our existing homes.
Launched in 2020, the AHGS bond issuance programme is backed by a guarantee from the UK Government and offers fixed-rate loans of up to 30 years to the social housing sector. From March 2024, registered providers were able to use the scheme to invest in property improvements in addition to funding new affordable homes.
Anne Waterhouse, Wandle Chief Executive, commented: “We are delighted to have successfully raised £55 million of funding from the Affordable Homes Guarantee Scheme as the scheme’s second London based borrower. The collaborative partnership between Venn and our finance team enabled us to secure a deal that creates immediate financial capacity, which we can now deploy to help alleviate housing pressures in the Capital.
Dr Valerie Vaughan-Dick MBE FRCGP (Hon), Chair of Wandle’s Board, commented: “I’d like to thank everyone involved in this transaction. This much needed funding will enable us to continue to deliver new affordable high-quality homes across south London, while progressing our investment in our resident’s existing homes.
We are the second housing association under the Scheme and will fund critical investment in our existing homes, including relating to fire safety works.