Published: 23 January 2026
We have secured £55 million of new bank funding, enabling us to continue investing in our existing properties while beginning to address key regeneration priorities.
This significant financing package will support us as we emerge from one of the most complex recoveries in the housing sector and look to the future, ensuring that our customers’ homes remain safe, sustainable, and fit for the long term.
The funding will also underpin regeneration projects that include the delivery of new homes across the borough of Rochdale, creating quality new places to live for people in Rochdale now and for generations to come.
Our treasury activity involved all of our current funders, each providing support in one form or another, alongside the addition of Principality as a new funder. Our £20m loan represents the very first time that the company, based in Cardiff, has invested in the English social housing sector.
Securing this funding package is a real vote of confidence in RBH and in our future. Building on our return to compliance with the Regulator of Social Housing last year, it means we can look into 2026 with increased optimism as we deliver on our three-year Corporate Strategy, which has the needs of our customers firmly at its heart. We are also incredibly proud to have the support of our existing funders and to welcome Principality into the English social housing sector for the first time. This package gives us the stability and flexibility we need to build a better future together.
Representatives from Principality visited Rochdale this week to discuss the new funding package in more depth and visit sites across the borough.
This new partnership marks an exciting new chapter for Principality Commercial as we extend our reach and funding into England. Supporting housing providers in England allows us to make a positive impact in more communities with affordable housing options and community services, and particularly in the North West where we already have a growing customer presence. As a mutual, we are honoured to partner with an organisation that shares our values and dedication in making housing more affordable and achievable. We are confident that this funding will help Rochdale Boroughwide Housing continue to strengthen its services and build thriving neighbourhoods.
We are delighted to be partnering with Principality. This funding package demonstrates confidence in RBH’s future and the strength of its partnerships. It also supports the financial foundation to enable us to continue investing in customers’ homes, while addressing regeneration priorities that will deliver new housing and community benefits across the borough of Rochdale.
The full funding package includes a £25 million new term loan with a five-year maturity and the option of two additional years with Santander UK, as well as the extension of a £10 million revolving credit facility to a five-year maturity.
Principality has agreed a £20 million new 25-year term loan, marking its first entry into the English social housing sector.
Meanwhile Danske has reset covenant arrangements to create alignment across RBH’s loan portfolio, while MORhomes has put in place a standby liquidity agreement providing access to capital markets at short notice.
We are pleased to provide RBH with a £35 million funding package. The increased loan will support RBH to complete the regeneration of several estates and deliver urgently-needed new homes in Rochdale. Having worked with RBH since its formation in 2012, we look forward to continuing helping the team make a solid impact within the local community.
Our funders were a crucial part of our recovery and it couldn’t have been achieved without their support at the very start. As we emerge from recovery and focus on key regeneration projects as well as investment in our homes, RBH are delighted to put in place a package of funding where all of those funders have been involved, plus the addition of a new funder for the first time in the English sector.
