Housing association the Jersey Homes Trust (JHT) has arranged a loan of more than £20 million with Lloyds TSB's Corporate Public and Community Sector (PACS) team to provide development and affordable housing on the island.
The money will enable JHT to go ahead with developing a 54-unit site on the outskirts of St Helier.
An initial £8.6 million loan will be followed by a further £12 million for further residential projects, and to maintain current building commitments.
Demand for new affordable housing on the island is high, and JHT is a key provider.
"The deal with Lloyds TSB Corporate and the provision of loan facilities for further developments is a vote of confidence in the objectives and management of the Trust and also in the local economy of Jersey," said JHT chairman Michael Van Neste.
"We are really pleased to have been able to enter into a brand new relationship with JHT and facilitate this important building project for the Channel Islands," said Mark Amis of Lloyds TSB Corporate PACS.
"Affordable housing is extremely important for local economies and the Channel Islands are no exception," he said.
Lloyds TSB offers a range of financial services, including personal banking and loans, business banking and loans, internet banking, savings, mortgages, investments, insurance, credit cards and many more.
Affordable homes deal for Jersey
Affordable homes deal for Jersey
Tue, 31 May 2005
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