Two Rivers Housing lands £20m loan months after £140m deal
What's the deal? Two Rivers HousingDealroom has a profile for this one. Try Dealroom → has secured a £20 million loan from Principality Building SocietyDealroom has a profile for this one. Try Dealroom → to fund energy improvements across its homes in Gloucestershire, Herefordshire, and surrounding areas. The housing association manages more than 4,700 homes and will use the money to complete its warmer homes programme.
Why now? The debt comes just months after a £140 million deal with Barclays and SantanderDealroom has a profile for this one. Try Dealroom → in April 2026 — a quick re-raise that adds a fresh lender to the mix. Principality is the largest building society in Wales and the sixth largest in the UK.
What's the endgame? The funding will pay for continued energy efficiency work and help Two Rivers Housing meet the government's energy performance requirements for social housing. In 2021, it formed a consortium with Stroud District CouncilDealroom has a profile for this one. Try Dealroom → and Cheltenham Borough HomesDealroom has a profile for this one. Try Dealroom → to secure government decarbonisation funding.
What's behind it? "Over the last few years, our tenants have seen huge rises in energy bills," said Carol Dover, deputy chief executive of Two Rivers Housing. She said warmer homes could help "tackle fuel poverty in our communities."
Two Rivers Housing worked with funding advisers CentrusDealroom has a profile for this one. Try Dealroom → and legal advisers Trowers & HamlinsDealroom has a profile for this one. Try Dealroom → on the deal. Tom Archer, a director at Centrus, said the loan "completes the jigsaw" of the association's recent treasury activity, introducing "a new lender with a long-dated facility that compliments the recent transactions with Barclays and Santander."
The signal: Back-to-back financings show housing associations are moving fast to line up capital as retrofit deadlines and cost-of-living pressures collide. For lenders like Principality, social housing offers a long-dated, mission-aligned home for their money.
Read more: netmagmedia.co.uk
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