Danske Bank Provides £25m Of Funding To Rural Housing Association

Rural Housing Association has partnered with Danske Bank to provide a £25 million funding package which will support ongoing investment and develop around 300 new properties over the course of seven years.

Danske's funding is expected to convert to a sustainability-linked loan once Environmental, Social and Governance (ESG) KPIs have been agreed.

Rural Housing Association's designs focus on insulation, airtightness, orientation and ventilation to maximise heat loss and gain. It looks to incorporate energy efficiency measures and integrate renewable energy sources, such as solar or geothermal system to offset each building's energy needs.

Stephen Fisher, CEO of Rural Housing Association said: "This is an exciting time for Rural Housing. We are dedicated to delivering great homes for our tenants by prioritising sustainability without compromising on quality or aesthetics.


"We are committed to making a positive impact on the environment by designing and building homes that not only meet the highest standards of comfort and style but also significantly reduce energy consumption, providing our tenants with healthier and more cost-effective homes."

MaryFrances McCrystal, Finance Director at Rural Housing Association, said: "We have banked with Danske Bank for a number of years and this new long-term partnership will allow us to invest in new homes and maintain existing properties to meet the ongoing demand for affordable housing in the rural communities we serve. Danske has a great understanding of the social housing sector and Rural Housing Association’s particular areas of focus so we believe it is a relationship that will help us support our tenants for many years to come."

Terri McCullagh, Corporate Banking Manager at Danske Bank, stated: "We are pleased to have agreed this new facility with our longstanding customer Rural Housing Association and excited to support the Association with its plans to continue building much needed new homes in rural areas. Their focus on energy efficient and sustainable homes aligns with the Bank’s own sustainability goals.

"Danske Bank has been a lead provider of finance to the social housing sector in Northern Ireland for many years and we want to continue to help the sector to thrive and meet the needs of people across Northern Ireland."

The Association has demonstrated its principles by recently completing housing schemes including nine homes in Lisnaskea, nine new homes and an apartment block in Randalstown and 10 new homes on Rathlin Island.