Sunday, 17 December 2017

£15m homes loan

SOUTH Oxfordshire District Council has agreed to loan £15 million to housing association Soha to build homes.

SOUTH Oxfordshire District Council has agreed to loan £15 million to housing association Soha to build homes.

The money will fund half of the 250 homes that Soha builds each year.

The 20-year loan, with an undisclosed interest rate, comes from the council’s £120 million reserves. Richard Peacock, Soha chief executive, said: “We already have in place excellent loan agreements but this one was beneficial to both parties and will be used to fund additional development.

“It will help make sure that Soha can include lots of new homes within South Oxfordshire.”

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