Hightown lands £75m Barclays credit line for affordable homes

What's the deal? Hightown Housing AssociationDealroom has a profile for this one. Try Dealroom → has agreed a new £75m revolving credit facility with BarclaysDealroom has a profile for this one. Try Dealroom →. The funding will support investment in its existing homes and the delivery of more affordable housing.

What's the endgame? The facility extends Hightown's long-term funding strategy, adding liquidity and capacity to build new affordable homes while maintaining its current stock.

What they said: Mark Farrar, chief financial officer at Hightown, said the agreement "reflects the strength of our financial position and the confidence Barclays has in our corporate strategy and ongoing performance."

Mark Wecki, relationship director for real estate and social housing at Barclays, said the arrangement "strengthens liquidity and provides additional capacity to deliver much-needed new affordable homes." He described a "long-standing partnership" between the two.

The signal: Revolving credit facilities give housing associations flexible access to capital as they balance maintaining existing stock against building new homes. Barclays' expanded backing points to continued lender appetite for the social housing sector.

Read more: The Intermediary

Image credit: Alex Pepperhill