Orwell HA secures funding from Natwest bank to help increase its stock

Orwell Housing Association based in the East of England has secured £32.5m RCF funding with Natwest bank. The landlord currently manages approximately 4,300 homes, for 8,200 tenants, and plans to utilise the funding to help building more properties. Natwest bank has pledged £7.5bn for the housing sector till the end of 2026, which is an increase of £2.5bn from the original £5bn they announced last year.

The HA, along with increasing its current stock of homes, is also going to use the funding to help with the energy efficiency of its portfolio.

David Hall, director of finance at Orwell Housing Association, stated: “We are delighted to agree this funding with NatWest and to continue our long-standing relationship with the bank. The offer met our needs perfectly and the teams worked well to ensure it is available to support our continued development. We have strong roots in our communities and this funding will enable us to grow further.”

Orwell, established in 1963, has been a long term client of Natwest using the bank for over 60 years.

The Ipswich housing association has a G1/V2 rating from the RSH, and manages properties in Essex, Norfolk, Cambridge and Suffolk, covering 12 local authority areas. Employing over 800 staff, Orwell provide housing, and ongoing support and care services.