Winckworth Sherwood’s Social Housing Finance team has advised Tower Hamlets Community Housing on both the finance and property aspects in securing a new funding facility with Santander. The new funding will enable Tower Hamlets Community Housing to carry out fire safety works to a number of its homes and provides a funding solution that offers flexibility moving forwards.
Winckworth Sherwood’s Social Housing Finance team undertook the due diligence and negotiations required to secure a portfolio of stock, which included a large proportion of ex-LSVT properties (Large Scale Voluntary Transfer) and some tower blocks concentrated in the locality of Tower Hamlets.
The finance side was led by Winckworth Sherwood Partner Patricia Umunna and the property security work by Head of Charging, Jill O’Reilly, with support from the wider Charging team.
Helen Neal, Director of Resources at Tower Hamlets Community Housing said: “We are very happy to have worked with Jill and Patricia and their teams on this refinance and property security project. The service and advice they provide is of excellent quality. By securing this funding, we will be able to provide the required fire safety works with no costs to our residents. We take safety very seriously and see it is a key part of our purpose to create places people are proud to call home.”