Lloyds Bank has supported housing association B3Living with a £50m sustainability-linked loan.
The funding is set to help the Hertfordshire-based firm to improve the energy efficiency of its existing developments as well as build hundreds of affordable homes.
B3Living is set to deliver at least 50 affordable new build homes a year by 2028, of which 70% will be in Broxbourne to help tackle the ongoing shortage of housing in the borough. The new homes will be built to EPC B specifications and above.
In addition, the firm will bring all of its existing properties in the portfolio up to at least EPC C by 2028.
The move aligns to B3Living’s wider strategic target to help support homeowners and tenants to reduce energy costs.
Lauren Bailey, associate director of real estate and housing at Lloyds Bank, said: “The work that B3Living does is important in the UK’s efforts in tackling climate change and making our current and future housing stock fit for the future while addressing the supply challenges the residential property market currently faces.”
B3Living was advised by Winckworth Sherwood.
To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews
