PWLB Rates For Social Housing Cut

Chancellor Rishi Sunak has cut interest rates by one percentage point for councils seeking to take out public loans for social housing. The move returns rates for social housing to the level they were at in October before the Treasury announced a surprise one percentage point hike to the cost of borrowing from the Public Works Loan Board (PWLB). Councils will now be able to borrow from the PWLB at 0.8% over gilts for social housing schemes, with authorities in England, Scotland and Wales eligible for the discount. Read more on Inside Housing.

https://www.insidehousing.co.uk/news/pwlb-rates-for-social-housing-cut-to-pre-hike-levels-65392?utm_source=Housing60&utm_medium=email&utm_content=article_link&utm_campaign=H60