Equity Housing Group secures £55m refinancing package

Cheadle-based Equity Housing Group has secured a £55m refinancing package designed to help the company build more than 800 homes over the next five years.The deal – struck with help form Savills Financial Consultants – involves the housing association and its lender NatWest agreeing to extend the term of its existing £20m loan and also add £35m in additional debt.Andy Oldale, deputy group chief executive at Equity Housing Group, which manages and builds a range of affordable rented and shared ownership properties in communities across the North West, South Yorkshire and Staffordshire, said: “The communities in our areas of operation expect that, as a charitable organisation supported by public funding, we will maximise our efforts to meet housing need in the areas where we work.