£20m deal to support affordable homes

Principality Building Society has partnered with Two Rivers Housing on a £20m funding deal.

Two Rivers Housing is a community-based housing association serving the Gloucestershire, Herefordshire and the surrounding area. Managing around 4,600 homes, it is focused on providing warm, safe, affordable homes and building new affordable housing where it is needed most.

Responding to affordable housing demand

The partnership will support Two Rivers Housing’s work to provide and maintain social and affordable homes in an area where demand for good-quality, affordable housing remains high. It will also help fund remedial and improvement works across its existing housing stock, supporting the organisation’s commitment to ensuring homes are safe and well-maintained.

The deal also includes works to help properties achieve a minimum Energy Performance Certificate (EPC) rating of C, improving energy efficiency and helping tenants live in warmer, more sustainable homes.

Jan Quarrington, Senior Portfolio Manager at Principality Building Society

“We’re proud to be supporting Two Rivers Housing with funding that will help deliver and maintain much-needed affordable homes across Gloucestershire and the Forest of Dean.

This partnership reflects our commitment to working with organisations that are making a meaningful difference in their communities by helping people access warm, safe and sustainable homes.”

Carol Dover, Deputy Chief Executive for Two Rivers Housing

“We’re committed to investing in our homes and neighbourhoods and this additional funding will help us deliver our warmer homes programme. Over the last few years, our tenants have seen huge rises in energy bills and face further financial pressure as the cost-of-living crisis continues to impact family budgets.

“We hope that by making our tenants’ homes more energy efficient, we can help alleviate some of that pressure and tackle fuel poverty in our communities.”

“I’d like to thank the teams at Centrus Financial and Trowers & Hamlins for their expert support and guidance throughout the process as well as our new funding partners, Principality Building Society who have been helpful and supportive throughout.”

Fraser MacRae, Partner at Clarke Willmott

“Clarke Willmott is proud to have supported Principality Building Society on this £20m funding deal with Two Rivers Housing.

Our long-standing relationship with Principality allows us to work collaboratively and effectively, supporting transactions that help borrowers deliver good-quality affordable homes. We are also pleased to play a part in projects with a clear sustainability focus, including investment in energy efficiency.”