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Alternative sources of finance

20/03/2012 17:18

 Alternative Sources of Finance

Published in Business on  

 

If social housing providers are to meet the escalating need for affordable housing they must explore alternative sources of private sector funding to bridge the funding gap, following the cuts to government grants and less favourable conditions for borrowing.

High property prices and large mortgage deposits are a major contributing factor to the ever increasing need for affordable social housing as people struggle to put a roof over their heads.

Institutional asset developers, Carlton & Co are currently involved in projects in the North East, where capital from pension funds will be deployed to revive development programmes and increase the level of affordable housing stock in the area.

Norman Peterson, CEO of institutional asset developers Carlton & Co commented “we have £60M to place and this presents a real opportunity for HARP’s to access long term funding to help grow their homes under management and to ignite their development programmes.   In the next couple of years, this type of finance will be the norm moving forward”.

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