Ulster Bank NI delivers £7m housing deal

Ulster Bank is providing £7m of lending to a local housing association for a major programme to deliver up to 300 new social homes across Northern Ireland over the next three years. 100 units will be provided in 2016/17 as part of the initiative by Ballymoney-headquartered Triangle Housing Association.

Triangle Housing Association Finance Director, Alan Crilly, commented:

“Ulster Bank has been active in the social housing sector for many years and we have been very pleased to work with them on a funding package to support our development plans.

“This will enable us to meet our target for new homes this year, which is a major part of our overall growth and development plan for the next three years”.

Kenton Hilman, Head of Corporate and Property Banking NI at Ulster Bank said:

“Ulster Bank has a dedicated relationship management team in Belfast which has the expertise needed to provide specialised lending to the housing association sector, and has been actively involved in supporting several major build programmes by housing associations in recent years”.

“Triangle is a well-established housing association with more than 770 units currently. This is one of its largest development programmes to date and will provide much needed accommodation supply, as well as making a positive contribution to the economy through the construction and other jobs it will support,” he adds.