THFC agrees £20m loan with Acis Group

Adrian Chamberlain, finance director at Acis, said: “The loan agreement with Blend will allow us to expand our impact on the affordable housing sector further.

“We are committed to making a meaningful difference in the lives of individuals and families across our communities and this new loan will help us to achieve this.”

“It is wonderful to welcome Acis as a new customer to THFC, with the loan from Blend enabling them to support their local communities through continued development of new homes and improvement of their existing accommodation,” said Gavin Richards, relationship manager at THFC.

“When we visited Acis, we witnessed first-hand their strong leadership team and the social impact their work will bring to the many communities they serve,” added Arun Poobalasingam, funding and marketing director at THFC.

The affordable housing aggregator’s loan book now sits at more than £8.2bn.

Last month, it raised £30m in the capital markets for The Swaythling Housing Society, a subsidiary of Abri Group.

Scunthorpe-based Ongo also agreed a £25m loan in March, bringing the total amount it has borrowed via Blend to £75m, following a previous £50m loan arranged in 2021. 

In August last year, the Regulator of Social Housing changed the basis for Acis’ V2 grade, noting that the landlord was reliant on income generated from its sales programme and student housing business to maintain covenant compliance and that its financial headroom remains “relatively low”.