HHA Secures Long Term Funding

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Inverness-based not-for-profit property development company HHA has agreed a multimillion-pound funding arrangement with Scottish Widows and the Scottish Government.

The funding will secure the tenancies of more than 160 mid-market rental (MMR) properties 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, which 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.

Gail Matheson, HHA Chief Executive, said: “We are delighted to have agreed funding with both Scottish Widows and the Scottish Government to secure the long term provision of MMR homes for our tenants.

 link source - Construction Media

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