Wheatley Group receive largest Scottish charitable bond to date of £20 million
The largest loan to date of £20 million will be allocated to Dumfries & Galloway Housing Partnership, part of Wheatley Group, to build 177 new affordable homes .
Allia C&C has been supporting the vital development of affordable homes across Scotland with its Scottish Charitable Bond programme. The bonds provide simple, affordable loans to housing associations solely for building affordable housing, using Scottish Government investment. The interest on the loans enables the Scottish Government to also provide grants for further social housing benefit. The loans are available for 5 to 15 years on an unsecured basis with light covenants in place, and no loan or interest repayments are made until the end of the term.
Daniel Carrico, Head of Origination at Allia C&C, said “We’re really pleased to be involved in this project. At £20 million, this is the largest Scottish Bond we have ever issued, and will have a huge impact on the local community. It takes the total loans issued by the bond programme to £63 million for 2019/20, and we’re looking forward to doing more in the next financial year.”