New borrowing by housing associations has fallen by a third as the sector responds to difficult economic conditions and government policy changes, according to the Tenant Services Authority. The social housing regulator, in its quarterly survey of registered providers, revealed that new loans worth £693 million had been arranged in the three months to September, down from £931 million the previous quarter. The figure for new funding is the lowest since the quarterly survey began in January 2009. The regulator said the affordable homes programme, which will allow landlords to charge rents at up to 80 per cent of market levels, will require up to £7.5 billion of funding with finance requirements concentrated in the last two years of the programme, in 2014 and 2015. It said it expects at least 40 providers to arrange funding over the next two years. Read more on the TSA website.
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