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Leeds & Yorkshire Housing Association secures £13m agreement

Santander Corporate and Commercial Banking has provided Leeds & Yorkshire Housing Association with a £13m loan agreement to support its ambitious growth programme over the next three years. The association's first development following the loan is underway in Barnsley. The Aldham House Lane site will contain 25 'affordable' homes for rent and is due for completion in March 2016. The £13m facility is expected to enable LYHA to provide up to a further 150 homes in its core areas of Leeds, Barnsley and Whitby by 2018, with the funds to be equally used between the association building new homes itself and effective partnerships with developers including Redrow, Ben Bailey and Bellway to purchase Section 106 homes on larger home ownership sites. Allan Murray, director, housing finance, Santander Corporate & Commercial Banking, said: 'LYHA is a passionate business with a great track record, which is fully committed to tackling housing shortage in its operational area.. We look forward to seeing this relationship develop further in the future.'

 

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