The housing association will use the money to grow its existing portfolio of more than 6,760 homes for affordable rent and shared ownership in West Sussex and Hampshire.

The funding forms part of NatWest’s recent commitment to support the social housing sector with £3bn of finance by the end of 2022. 

This aims to support the development of around 20,000 new homes, as well as the improvement of existing properties.

Michael Chinn, executive director of resources at Saxon Weald, said: “The funding from NatWest will enable us to deliver our development programme and ensure we have housing for the people who need it most across Sussex and Hampshire.

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“As well as building new homes, we will continue to focus on providing our existing customers with a consistently high standard of property management and maintenance services and access to advice and support.”

Dharmesh Patel, associate director at NatWest, added: “...We are committed to supporting housing associations like Saxon Weald which has ambitious plans to significantly expand its portfolio of homes by 2026. 

“We have worked closely with Michael and Mark Pavlovic at Saxon Weald to provide a funding package that aligns with their business plan and will help them meet local housing needs.”

Established in 2000, Saxon Weald provides affordable homes for individuals and families, as well as bungalows and retirement flats exclusively for the over 55s.