Plus Dane secures £30m loan from Principality
The 25-year facility provided by the Welsh building society will support the housing association’s development programme across Cheshire and Merseyside.
Liverpool-headquartered Plus Dane Housing owns and manages more than 14,500 homes and provides a range of services for its customers.
The new funding facility from Principality Building Society, driven by the commercial lending division, will support Plus Dane in its ambitions to deliver 730 affordable homes by 2027 and extend the programme to achieve 1,120 homes by 2030.
Investment will also be made into maintenance of the housing association’s existing homes.
Scott Owen, head of treasury at Plus Dane, said: “In 2025, our board set us the challenge of securing £100m of competitively priced funding and extending our debt maturity profile to support delivery of our business plan and provie financial stability through to 2027.
“This new £30m, 25-year facility with Principality is an important milestone in meeting that objective. It strengthens our long-term funding position, provides certainty to support our future plans, and has been secured on terms that deliver strong value for money for Plus Dane and our customers.”
The agreement represents the building society’s second housing association deal in England, building on Principality’s growing presence in the affordable housing sector across England and Wales. It also marks Plus Dane Housing’s first transaction with Principality.
Richard Wales, commercial lending director at Principality Building Society, said: “Plus Dane Housing plays an important role in delivering affordable housing and investing in communities across Cheshire and Merseyside, and we’re pleased to be working with the organisation as it continues to invest in both new and existing homes.
“This funding will help the organisation progress its development ambitions to provide while enhancing the sustainability and long-term resilience of its existing properties, ensuring more people can benefit from high-quality, affordable homes.
“Our businesses share a commitment to strengthening communities, improving lives through housing, and creating long-term social value. We look forward to building our relationship with Plus Dane in the years ahead.”
Wales’ largest building society lends across England and Wales, providing finance for both investment and development schemes in the commercial and residential sectors, including support for housing associations and affordable housing providers.
