A Liverpool-based social housing firm has agreed a £50m funding deal that will allow it to continue building 300 new homes a year.
One Vision Housing (OVH) has completed a £50m revolving credit facility with Barclays, describing it as "great news", and the "beginning of a long relationship".
OVH currently has around 13,000 homes across Sefton, Liverpool, Wirral, Cheshire and West Lancashire, and says the money will help towards its development plan.
Tracey Liggett, chief finance officer of OVH, said: “This deal is great news for OVH and we hope it marks the beginning of a long relationship with Barclays.
"We are delighted to have secured this funding which will allow us to provide more high quality homes and further help us deliver on our vision of thriving, inclusive communities in Liverpool and surrounding areas.”
Liverpool-based OVH is part of the Sovini Group, and was founded in October 2006 through the large-scale voluntary transfer of stock from Sefton Metropolitan Borough Council.
Michelle Murray, Barclays Relationship Director, said: “With Barclays’ strong track record in supporting social housing projects, we quickly developed a strong relationship with OVH’s management team and a good understanding of how they will deliver on their strategy.
"Working with OVH to agree this new funding underlines our ongoing commitment to the Social Housing sector in the UK.”
