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Manchester wins lottery fund

25th August 2016

Five housing providers across Greater Manchester have been awarded lottery funding to help improve health and unemployment. The £9.7m grant will be allocated over the next three years and will help local people improve their skills and health to help them back into employment and training. The money from the Big Lottery Fund and European Social Fund’s Building Better Opportunities project has been awarded to Manchester Athena’s Motiv8 programme which will be delivered by five housi...

£10.8m upgrade for homes in Northern Ireland

25th August 2016

The Northern Ireland Housing Executive (NIHE) has published its four-year financial plan. Causeway Coast and Glens Borough Council will receive the sum of £18.72m for upgrading and maintaining existing homes. In partnership with housing associations, 366 new homes are also planned for the area. This sum will also go towards supporting people to live independently, increase the energy efficiency of homes and provide grant aid in the private sector. Trevor McCartney, the Housing Exe...

'First of its kind' deal secures £35m for new homes

23rd August 2016

Port of Leith Housing Association (PoLHA) has secured a new £35m private funding facility to support its plans to build over 480 homes for social and mid-market rent in Leith and North Edinburgh by 2020. The deal, which is one of the first of its kind, combines a revolving credit facility (RCF) and a private placement (PP) finance deal that has been arranged by Bank of Scotland. An initial £10m revolving credit facility with Bank of Scotland (BoS) will be paid down in stages and wil...

Persimmon report soaring profits

23rd August 2016

Housebuilder Persimmon has reported a surge in profits for the first half of the year. Pre-tax profits rose 29% to £352.3m for the first half of the year, while revenues increased 12% to £1.49bn. Persimmon's chief executive, Jeff Fairburn, said: "Our private sale reservation rate since 1 July is currently 17% ahead of the same period last year. The group is now trading through the traditionally slower summer weeks but customer demand remains encouraging and we anticipate a good autumn sa...

Look North for best rental returns

17th August 2016

Research shows Buy to Let properties next to universities in the northern part of the country have the best performing rental yields. Property crowdfunding platform Property Partner compiled a list of 86 university towns and cities across the UK including Northern Ireland, ranked by net rental yield in each local property market. It found the cities of the North East perform best, with Sunderland topping the table (6.9% net yield), alongside Middlesbrough (5.9%), with Newcastle also in the top t...

Rentplus secures further £20m investment

17th August 2016

Rentplus has secured a further £20m investment on top of its recent £70m funding. The investment, supplied by Crestline Europe, will be used to expand its nationwide pipeline of delivering new, affordable homes. The company is planning to deliver 5,000 new homes by 2020, has signed a delivery finance facility with Crestline Investors, a credit-focused institutional alternative asset manager, for up to £20m of new funding. An initial £20m has been agreed and is available...

Housing benefit would not pay the rent

16th August 2016

5.5 million adults would not be eligible for full housing benefit if they were to lose their job. Analysis by Royal London of government’s family resources survey data for 2013-14 – the most recent full set of figures the researchers had available to them – showed 5.5m working adults across the UK would not be eligible for full housing benefit should they lose their job, more than double than in 2003-04 and the majority of who are living in London. Those who are particularly vul...

Keepmoat year-end figures show group revenue up

15th August 2016

Keepmoat pushed group revenue up by 3.5% over 2015-16 according to newly released financial results. That 3.5% took the increase to £1,134m (FY15: £1,095m) reflecting strong growth in its homes division - offset by a small decline in regeneration division revenue.  Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of £66.7m (FY15: £63.8m) continues to demonstrate progress. A £54.7m cash flow was available for debt servicing and ...

Energy policy a ‘tax on tenants’

15th August 2016

Tenants may face higher rents due to the impact of energy efficiency. New laws mean that from 2018 it will be illegal to rent out property with the worst energy efficiency levels. The Residential Landlords Association (RLA) is warning that having removed all support for landlords to fund this, the impact will be to raise rents for tenants. Nearly a third of private rented housing was constructed before 1919, making them some of the hardest to treat properties for energy efficiency improvements...

A third at risk of losing their home

9th August 2016

One in three working families are only one paycheque away from losing their home. A third of working families in England could not afford to pay their rent or mortgage for more than a month if they lost their job, new figures from Shelter reveal. With little or no personal savings to fall back on, the Shelter and YouGov study found that this means a staggering three million working families could be just one paycheque away from losing their home. Even more shockingly, the research also revealed ...