West Kent Housing Association (WKHA) has secured a £30m loan from the Affordable Homes Guarantee Scheme (AHGS) to fund the development of 120 new homes across Kent.

Key Details of the Loan:

• Provided by Homes England under the AHGS.
• Supports 106 homes in Tonbridge & Malling and 22 in Swanley.
• Helps WKHA continue new developments while investing in existing properties.
• Offers cost-effective financing amid high-interest rate volatility.

About the AHGS:

• Launched in 2020, reopened in March 2024 with an extra £3bn in funding.
• Provides low-cost, fixed-rate loans (up to 30 years) for affordable housing.
• Venn, the scheme’s investment manager, tailored the loan to accommodate up to 35% shared ownership in WKHA’s portfolio.

Industry Reactions:

• Oriane Auzanneau, Venn:
  

  “We are delighted to support West Kent in delivering over 120 much-needed affordable homes to its communities.”

• Maria Organ, WKHA Executive Director of Finance:
  

  “This agreement helps us develop new homes and invest in regenerating existing properties for our residents.”

Broader Sector Trends:

• AHGS is expanding, with recent loans including:
  • £100m to Nottingham Community Housing Association for 450 homes.
  • £83.5m to a North West landlord.
• Government-backed affordable housing funding remains crucial amid housing shortages and high borrowing costs.