The new funding – which replaces the trust’s previous £145m facility – is a mixed-maturity deal from a pool of new funders, including Lloyds Bank and Yorkshire Building Society.
Some £100m has now been available for on-lending to joint ventures which fuel the trust’s homebuilding plans across the North West.
This includes a 2,000 property housebuilding partnership with L&Q housing association, into which each organisation will invest £80m over the next four years.
Helen Rourke, director of finance at Trafford Housing Trust, said: “The refinancing gives the trust more control over our assets and greater potential to invest in our strategy to deliver better homes for residents and significant numbers of new homes of all types across the North West.”
Created following the transfer of council housing stock in 2005, Trafford Housing Trust has been developing homes since 2011.
In this time, the trust has developed nearly 500 new houses, of which 430 are affordable.
Trafford also operates a ‘profit for purpose’ policy, which sees it reinvest development income ring-fenced from rented stock into affordable housing, mixed-use and assisted living new-build projects.
It is hoped that this latest funding will help the trust operate on a much grander scale.
Pictured: Larry Gold, deputy CEO and CFO at Trafford, and Helen Rourke.