en.Wedoany.com Reported - UK housing association Plus Dane Housing has secured £30 million in financing from Principality Commercial, the commercial lending arm of Principality Building Society, to support its housing development plans and ongoing investment in existing homes in Cheshire and Merseyside.
Plus Dane Housing currently owns and manages over 14,500 homes, while offering a range of services designed to help customers improve their living experience and quality of life. The new funding from Principality's commercial lending division will assist the association in achieving its target of delivering 730 affordable homes by 2027, and extending this plan to 1,120 homes by 2030. The funds will also be used to invest in the sustainability and long-term resilience of existing properties.
Scott Owen, Finance Director at Plus Dane, stated that in 2025, the board required the association to secure £100 million in competitively priced financing and extend debt maturities to support business plan delivery and financial stability through 2027. He noted that the £30 million, 25-year financing agreement with Principality represents a significant milestone in achieving this goal, strengthening the association's long-term funding position, providing certainty for future plans, and being secured on cost-effective terms.
The agreement marks the second housing association transaction by Principality Building Society in England and reflects its growing influence in the affordable housing sector across England and Wales. It also represents the first collaboration between Plus Dane Housing and Principality, demonstrating a shared commitment to increasing the availability of high-quality affordable housing.
Richard Wales, Director of Commercial Lending at Principality Building Society, stated that Plus Dane Housing plays a vital role in providing affordable homes for communities in Cheshire and Merseyside, and this funding will help the organization advance its development ambitions while enhancing the sustainability and resilience of existing properties, enabling more people to benefit from high-quality affordable housing. He added that both organizations are dedicated to strengthening communities, improving lives through housing, and creating long-term social value.
Principality is one of the largest building societies in Wales, operating across England and Wales, providing financing for commercial and residential investment and development projects, including support for housing associations and affordable housing providers.
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