Wirral housing association Magenta Living secures £77m of new financing to build 1,300 new homes. Tony McDonough reports
Wirral housing association Magenta Living has secured £77m in fresh financing to reach its target of building 1,300 new Liverpool city region homes by 2030.
This financing includes £12m from the Charities Aid Foundation Bank (CAF) and £10m with Northern Ireland-based bank Danske who are eager to expand to the English market.
CAF Bank’s loan will be used to build new properties for social rent with a strong focus on energy efficiency. A CAF Bank Green Loan means cheaper borrowing and a partnership approach to achieving EPC ratings of B or above in the new homes.
The loan reflects the strong social value credentials of Magenta Living and their investment in the community, which aligns well with CAF Bank’s mission to create ‘positive change’.
“CAF Bank is solely dedicated to supporting and working with charities and social purpose organisations,” says Iain Smith, CAF bank relationship director. “The way Magenta Living builds safe and secure homes couldn’t be a better example of an organisation we are proud to support.
“The commitment to building new energy efficient homes is another shared aim, keeping costs down for Magenta Living’s customers, and furthering our shared commitment to a more sustainable future.”
Paul McGrady, Magenta Living’s chief finance officer, added: “Both of us have had to invest in new processes to make the loan happen, but it has been worth it to be able to collaborate with a bank that has such a strong history of social value.
“Similarly, our arrangement with DANSKE, reflects our ambitious decision to grow and provide more homes in Wirral.”
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These loans complete a 2026 £77m funding round for Magenta Living alongside £40m funding from Santander for new build, and £15m from Barclays for retrofitting existing housing stock.
85% of Magenta Living’s new properties will be in Wirral with the rest in other areas of Liverpool city region.