Published: 6th Nov 2020

The Birmingham-based Pioneer Group has secured a £35m long-term loan from Scottish Widows as part of its plans to build 250 new affordable homes by 2025. The 30-year fixed rate loan has been agreed with an all-in interest rate of around 2.3%.  The funding is fully deferred for two years and will be drawn in October 2022. ‘This is great news for the Pioneer Group and for at least 250 new households when we get our next development programme underway,’ said chief executive, Simon Wilson. ‘This new loan agreement fuels our commitment to expand our portfolio of homes in a sustainable way and to support local housing needs. Our vision is simple – to Make Lives and Communities Better with our current and future assets and our heritage of being a community-focussed organisation.’ Normal funding roadshows were not possible under the current coronavirus restrictions, so the Pioneer Group met with potential funders … (To read the full article, subscribe below)