Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

300 affordable homes planned for Dundee and Angus after £13m charitable bond secured

Angus Housing Association recently opened the Malt Loan affordable homes development in Carnoustie.
Angus Housing Association recently opened the Malt Loan affordable homes development in Carnoustie.

Around 300 affordable homes could soon be built in Dundee and Angus after a local housing association secured funding of £13 million.

The charitable bond from Allia C&C will cover the cost of Angus Housing Association’s planned builds over the next three years.

New mixed tenure estates will be established in Angus while existing communities will continue to be supported.

In Dundee, the cash will be used to strengthen existing communities in the north east of the city and also allow for more developments in the West End.

The numbers built will be roughly equal between Angus and Dundee.

The bonds provide “simple, affordable loans” to housing associations solely for building affordable housing, using Scottish Government investment.

Hazel Farquhar, chair of Angus Housing Association, said: “Last year the management committee and our consultants started the process to find funding to deliver around 300 new properties by 2023.

“The process was rigorous and having considered 17 funding offers, Allia C&C provided the best value for money for the Association.

“The Allia team have been efficient and flexible and the ease at which the process has been concluded has been ideal for our staff and the committee.”

Angus Housing Association owns over 2000 homes and provides factoring services for around 600 owner occupiers throughout Angus and Dundee.

2020 marks the 50th Anniversary of the initial registration of the Auchmithie Housing Association, in May 1970.

Housing Minister Kevin Stewart said: “Everyone deserves a safe, warm place to call home, and that’s why we’re investing £172 million in charitable bonds, providing development finance for over 1,200 affordable homes to date.

“It’s encouraging to see the success of the programme continue to grow, with the total bonds issued this year expected to reach almost £90 million by the end of March.

“This innovative programme is helping communities grow and thrive, and keeping us on track to achieve our target of 50,000 affordable homes by 2021.”

Daniel Carrico, head of origination at Allia C&C, added: “We’re really pleased our Scottish charitable bond programme was chosen by Angus Housing Association to help them deliver such a large project over the next three years.

“This will have a such a significant and beneficial effect on their community, so it’s great to be a part of that journey.”

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.