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HHA signs for long term funding

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HHA signs for long term funding

HHA has agreed a multimillion-pound funding arrangement with Scottish Widows and Government. This Inverness-based not-for-profit company will secure the tenancies of more than 160 mid-market rental (MMR) properties as the funding flows in.

This long term activity of receiving funds will happen throughout the Scottish Highlands for the next 25 years. HHA has secured 25-years loan funding worth £23.25 million. The new funding refinances homes built and delivered under the National Housing Trust initiative.

This was set up to stimulate the construction sector and address the housing issue that has been created by the lack of available mortgages in the wake of the 2008 financial crisis. The funding will further strengthen HHA’s position as it embarks on an ambitious development programme.

HHA will deliver nearly 200 new homes for mid-market rent over the next two years, with help of this funding. HHA has continued to deliver homes across different locations despite the ongoing challenges of the pandemic.

The projects delivered include Wyvern House on Academy Street in Inverness, and sites in Carrbridge and Drumnadrochit. The new funding secures their rental agreements until 2046.

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