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The Housing Corporation this week published findings from its October housing association financial health survey. It reported:
Friday 28th November 2008• Associations are planning to make £1.2 billion from property sales, mainly shared ownership, over the next year.
• They had 9,955 unsold shared ownership homes in October. a Without planned sales proceeds, associations will need to borrow more.
• The price of new loans continues to rise. Margins of 150 basis points, or hundredths of 1 per cent, now appeared to be the ‘norm’, compared with 20 to 30 basis points a year ago.
• The proposed merger of Lloyds TSB and HBOS was likely to decrease the pool of lenders in social housing.