The Housing Finance Corporation injects €289m into affordable housing

The Housing Finance Corporation (THFC), a UK provider of financing for affordable housing, has announced a £250 mln (€289 mln) strategic partnership with SNG (Sovereign Network Group).

Flats - The Housing Finance Corporation

This funding is aimed at supporting SNG's long-term goals of investing in affordable homes, improving existing communities, and facilitating future growth.

SNG is actively developing properties across London and Southern England, with 709 social rent homes currently under construction in the capital. Recently, they completed 69 affordable homes in Brentford and 56 in Stevenage.

This transaction marks THFC's second significant funding deal of this magnitude.

Anup Dholakia, director of Treasury at SNG, said: “This partnership with The Housing Finance Corporation supports our long-term ambitions to invest in both new and existing homes, while continuing to deliver safe, affordable and energy-efficient homes for our customers. Having funding partners that understand the housing sector and share our values is an important part of achieving that vision.”

Priya Nair, chief executive of The Housing Finance Corporation, said: “Providing long-term funding is increasingly important as housing associations continue to invest in homes, communities and existing housing stock. SNG’s scale, ambition and strong social purpose make it a natural fit for The Housing Finance Corporation, and this partnership reflects a shared commitment to supporting high-quality affordable housing and community impact.”