Principality pump £10m into new social housing
THE commercial lending arm of Principality Building Society has provided £10m in funding to Family Housing Association, to support an expansion of affordable housing in south and west Wales.
Based in Swansea, Family Housing Association currently manage over 2,800 affordable homes, as well as providing tenant services. In line with the Welsh Government’s housing agenda, the funding will also enable plans to develop low carbon homes of the future.
The housing association is planning to build a further 700 homes over the next decade.
Throughout the pandemic, the society has ensured that the plans and ambitions of Welsh housing associations continue to be supported. To date, they have delivered £55m of a £75m fund, launched for Welsh housing associations in 2017.
Jan Quarrington, social housing manager, Principality Commercial said: ‘‘We’re proud to be working with Family Housing Association, as they look to develop much needed new homes for communities in Swansea and across west Wales. As a mutual building society, our ethos is to ensure people can prosper in their home and community and we’re pleased that Family Housing Association, who share this ethos, have accessed the financing.’’
Marcia Sinfield, chief executive of
Family Housing Association said: “Principality share our commitment to providing affordable homes in Wales and we are delighted to have the opportunity to work with Wales’ largest building society. We are committed to delivering 700 homes over the next 10 years, a journey we are excited to be embarking upon with the support of Principality.”
■ Members of Swansea Building Society will now be able to access their savings and mortgage accounts online for the first time, following the launch of Swansea Online.
The mutual’s four branches have remained open during the coronavirus crisis, while following guidelines around social distancing.
Alun Williams, chief executive of Swansea Building Society, said: “We have been working on launching an online offering for some time, but our priority was always to do so while ensuring that our members would be comfortable with the security of the platform and have complete assurance that their money is safe. The system is secure and uses a two-step sign in process, giving another safe option to manage accounts. Whether you’re at home or on the go, Swansea Online will allow members access to their accounts whenever they need it and in a way that’s easiest for them.
“Of course, this is an additional service and point of contact for our members and not a replacement for the personal service we have always cherished and built our business around.”