Principality Building Society has released a longer-term funding option aimed at housing association developers to build new homes.
The mutual said that it followed the success of 15-year term funding option and is available to support development of new homes and to retrofit the existing properties.
Richard Wales, commercial lending director at Principality, said: ‘We’re proud to announce this new product to further support the great work that is done by social housing providers.
“In addition to the new 25-year repayment plan, housing associations may also secure lower borrowing costs should they deliver on mutually agreed environmental, social and governance (ESG) objectives.”
He added: “As a company, we became carbon neutral this year in our own operations, as we strive to reach net zero status by 2030. It’s something that’s very important to us, so we’re keen to help other to make this journey too.”
The lender has been updating its proposition, releasing a mortgage for newly qualified professionals with improved income cap recently.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
