We have agreed a significant refinancing deal with NatWest, strengthening our long-term financial position and supporting our ambitious plans to build and invest in more affordable homes across Kent over the coming years.
The deal comes at an important time for us, as we recently celebrated 35 years of service and launched our new five-year strategic plan. Central to the plan is our ambition to grow to 10,000 homes alongside investing in our current portfolio to ensure our homes meet residents present and future needs.
The new 15-year term loan replaces a revolving credit facility that was due to expire in 2029, providing greater financial certainty and enabling us to plan confidently for the future.
The refinancing reflects our proactive approach to managing financial pressures while maintaining our strong commitment to growth and investment in affordable housing.
Maria Organ, Executive Director of Finance and Corporate Services at West Kent Housing Association, said: "This refinancing deal gives us the stability and flexibility we need to grow and invest in homes, services, and communities for the long term. As we look ahead to delivering our ambitious plans, this partnership ensures we remain financially resilient and well-positioned to meet the needs of the people we serve."
Dharmesh Patel, Associate Director, Housing Finance at NatWest comments: “We’re proud to support West Kent Housing Association with this long-term refinancing deal, which will help deliver much-needed affordable homes across Kent. This partnership reflects NatWest’s commitment to supporting housing associations as they invest in homes and communities across the UK".
Michael Nutman, Senior Associate at Anthony Collins Solicitors added: “It remains a privilege to support West Kent in the delivery of its ambitious growth plans. This refinance exercise represents yet another positive milestone in West Kent’s journey to building 900 affordable homes across Kent and reflects an organisation that is taking pragmatic, prudent and proactive steps to ensure its ongoing financial resilience and flexibility.”
Mike Roche, Director of financial advisory firm Savills Financial Consultants added: “It has been a real pleasure to advise West Kent on their latest re-financing – working as part of an effective team we have delivered the latest strand in West Kents well-planned, and flexible, funding strategy that provide certainty and enhanced risk protection for delivery of the ambitious aims it has for its customers.“
Investment and growth
During 2024/25 we successfully secured over £1.3 million from the Warm Homes Social Housing Fund that will help us invest in over 300 homes, helping bring them up to EPC C standard by 2030. Additionally, we built 180 new homes in 2024/25 and have commenced our largest land-led development to date: 106 homes at Woodlands Place in Maidstone.
Other treasury activity over the last 12 months includes us securing:
- £30 million from the Affordable Homes Guarantee Scheme to support our development at Woodland Place, Allington, and the regeneration of Heath Close, Swanley.
- A £50 million loan with Nationwide.
Beyond bricks and mortar, we continue to deliver significant social value, supporting around 5,000 people each year through our community programmes and support services as we aim to create a prosperous, strong and sustainable society for Kent.