Construction News

18/06/2009

New Social Housing Lender

Housing and Communities Minister Alex Neil has welcomed news from the Bank of England that Nationwide Building Society will take on responsibility for Dunfermline Building Society's social housing loan book.

The Bank of England announced yesterday that they have selected Nationwide as the preferred bidder for the social housing loan book after a competitive auction process.

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Nationwide is the second biggest lender to Housing Associations in the UK, but in recent years has been inactive in the Scottish market.

Alex Neil said: "I welcome Nationwide as a new active lender to the social housing community in Scotland.

"I look forward to working with Nationwide to actively pursue the Scottish Government's commitment to boost affordable housing in Scotland."

(GK/BMcc)

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