One of the South East’s largest housing associations has secured a £100 million sustainability-linked loan facility from Lloyds to retrofit its existing stock and boost house building across the region.
Moat, which manages more than 21,000 homes across Kent, Essex, Sussex and London, will use the funding to achieve its house-building and ESG objectives over the next five years.
As part of the loan agreement with Lloyds, certain targets have been agreed.
These targets include retrofitting the properties within its existing property portfolio to upgrade its sustainability performance, as well as a commitment to building new, affordable rental homes each year over the next five years.
It must also increase the number of new apprentices recruited each year.
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Moat executive director of finance Gloria Yang said the business was “very pleased” to have Lloyds Bank’s support during an “economically and politically challenging period”.
“We have committed to achieving these three stretching targets to ensure that we invest in skills and new homes for years to come,” she added.
Lauren Bailey, relationship manager, Lloyds Bank, said: “Housing associations have a big task ahead of them as demand for more affordable housing across the UK increases, however they are also focused on the importance of improving the energy efficiency of their existing portfolios.
“We knew from the outset that Moat was committed to creating and delivering an ambitious plan and we are proud to support them to ensure its residents in the South East benefit from greener, affordable and fit-for-future homes.”
In February this year, the biodiversity net gain law, which states that developers can’t destroy local nature and development has to give extra provisions for nature, came into force.
