Social housing provider lands £50 million loan

A social housing provider has secured £50 million in funding to support the delivery of new homes and improvements to existing properties.

Peterborough-based Cross Keys Homes has agreed the sustainability-linked loan with HSBC UK as it looks to accelerate housebuilding and invest across Peterborough and Cambridgeshire.

The funding will support the organisation’s plans to develop 1000 homes over the next three years, expanding its existing portfolio of more than 13,200 properties.

The loan also includes sustainability targets, with Cross Keys Homes committing to environmental improvements across its housing stock and working with local suppliers where possible.

Ruby Surpal, finance director at Cross Keys Homes, said: “HSBC UK’s support marks a pivotal moment in Cross Keys Homes’ journey. 

“With support from the bank, we’ve been able to position the business for further sustainable growth, whilst also ensuring we continue to invest in the communities we serve.

“We’re committed to continuing to invest in our neighbourhoods and create opportunities that help change people's lives.”

David Whelan, director of Social Housing at HSBC UK, added: “It’s fantastic to support the growth of Cross Keys Homes and empower an organisation that can make a real difference. 

“This business is a prime example of what clear vision, ambitions to scale and commitment can deliver. 

“We look forward to seeing the value the new developments will bring to Peterborough and Cambridgeshire.”

Established in 2004, Cross Keys Homes provides affordable homes for rent and sale alongside a range of community services.

Its work also includes care and support programmes, volunteering opportunities, employment initiatives and retirement living schemes.

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