We’re proud to be part of a new organisation that’s helping housing associations raise finance for their development programmes and services.
MORhomes is a funding agency owned by 62 housing associations, including Aster. It has issued a £250m bond to investors of which Aster’s share is £40m.
Our role in MORhomes is part of a commitment to having a diverse range of funding streams. Alongside the rents paid by our tenants and grants from central government, we also use bank finance and funding from bond issuances.
This approach is crucial to Aster’s self-sufficiency. By forging strong relationships with those who fund the housing sector, we can build a stronger business and deliver more homes and better services to our customers. It’s crucial to us fulfilling our vision of everyone having a home.
As Neil Hadden, who chairs MORhomes, says: “I am thrilled to see this project come to fruition. It shows that the sector continues to innovate in finding new ways to access the funding to support the development of new homes.”