finance

We receive rent and service charges and income from investments. To finance new schemes we use a mixture of government grants, loan funding and our own reserves. We have a strong asset base, and good liquidity and gearing ratios.

The income from our rents is used to manage and maintain our housing to a high standard and to repay loans.

Grant funding is limited so other private finance alternatives are needed to meet current housing need. Our lenders include Barclays Bank, the Co-operative Bank, Nationwide Building Society and The Housing Finance Corporation. We arrange long-term finance to meet future developments. Loans are secure on completed developments.

Our social housing rents are set in accordance with our rent plan and comply with regulation. We aim to ensure our rents are comparable with other housing association rents for similar properties in similar areas.

Greenoak also provides accommodation without grant funding which is let at near market rents. This enables us to house people whose needs are unlikely to be met through the limited stock of social housing.