Nationwide Commercial has increased its loan facilities for Cymdeithas Tai Eryri, a charitable housing association and registered social landlord based in North Wales.
The new £5 million borrowing facility will allow Cymdeithas Tai Eryri to develop new affordable homes in Anglesey and Gwynedd, North Wales.
Cymdeithas Tai Eryri has operated for over 30 years and works closely with Local Authorities within North West Wales, mainly Gwynedd, Bangor and Anglesey, to provide family and supported housing to meet the demands of the local communities.
Nationwide Commercial says it is committed to lending money to a variety of RSLs (Registered Social Landlords) including small traditional housing associations, group structures and LSVTs (Large Scale Voluntary Transfers).
Ned Michael, Cymdeithas Tai Eryri resources director, said: “The new deal will enable us to continue to develop affordable housing to those that need it in the North Wales region. The team at Nationwide clearly understand the specialist area in which we operate and the whole process from making the initial approach to completion of the facility and securing the first drawdown was quick and stress free.”””