Supporting Be One Homes in securing £75m funding to deliver 300 new social properties

• The Client: Be One Homes, a charitable Community Benefit Society managing 19,000 social properties across the North West
• The Challenge: Securing long-term fixed borrowing costs during volatile market conditions to fund 750 new residences and a £68 million retrofit programme without risking frontline community services
• The Outcome: Secured a £75 million, 13-year fixed-rate loan facility under the Affordable Homes Guarantee Scheme, enabling over 300 new social homes and major housing stock upgrades

Be One Homes, a prominent North West housing provider managing 19,000 properties, needed long-term financing to expand its housing stock and upgrade existing homes. Facing volatile economic conditions, the organisation required fixed cost certainty to support ambitious development plans across Bolton and surrounding areas. Anthony Collins advised Be One Homes on securing a £75 million, 13 year fixed rate loan facility from Saltaire Housing under the Affordable Homes Guarantee Scheme. This milestone transaction enables the delivery of 300 new social properties, while supporting major retrofit improvements and safeguarding long-term funding for vital community services.

The Challenge

Following its merger with Arcon Housing Association, Be One Homes, formerly Bolton at Home, manages approximately 19,000 social properties across the North West. To meet pressing regional housing needs, the charitable Community Benefit Society established a three year strategy to deliver 750 new affordable residences and invest £68 million upgrading existing stock.

However, executing large scale residential development and retrofit programmes during turbulent financial markets requires strict cost management and guaranteed long term stability. Be One Homes needed to secure substantial capital with predictable, fixed borrowing costs to protect operational budgets and prevent future economic shocks from eroding frontline community support.

Anthony Collins was ideally positioned to support Be One Homes through this complex financing process. Our dedicated property and funding teams bring sector specific legal expertise, extensive experience with government backed bond programmes, and a shared social commitment to improving lives through high quality, affordable housing.

The Solution

Led by legal director Adriana Klincova in our funding team, alongside specialists from across our property practice, Anthony Collins designed and executed a comprehensive legal framework to secure the financing.

We advised Be One Homes throughout every stage of securing a £75 million facility from Saltaire Housing Limited, a subsidiary of ARA Venn, which manages the UK Government’s Affordable Homes Guarantee Scheme (AHGS). The transaction was structured as a 13 year facility featuring a fixed interest rate, providing the client with complete certainty over long term borrowing costs.

Our legal work encompassed several critical workstreams:

• Government-backed structuring: Advising on the specific legal, regulatory, and security requirements of the AHGS bond-backed programme.
• Due diligence and property security: Conducting meticulous property and charging due diligence across selected housing assets to meet lender requirements efficiently.
• Contract negotiation and execution: Drafting, reviewing, and finalising all loan agreements, security documents, and associated corporate approvals to ensure seamless execution.
• Multi-partner coordination: Working closely with Be One Homes’ executive leadership, external financial advisers, and lender representatives to maintain clear communication and meet strict completion deadlines.

By combining technical precision in social housing finance with a proactive, collaborative style, our team navigated regulatory hurdles and completed the transaction smoothly. This structured approach provided Be One Homes with complete confidence, ensuring the loan was secured under optimal terms to support both immediate development goals and long term financial resilience.

The Impact

Securing the £75 million loan facility provides Be One Homes with long term cost certainty, enabling the provider to build over 300 new social homes across Bolton and the North West. The funding directly advances the organisation’s target to construct 750 affordable residences over three years, while supporting its £68 million commitment to retrofit and modernise its 19,000 existing homes. By safeguarding predictable borrowing costs for 13 years, the agreement protects core budgets, ensuring local residents benefit from warm, energy efficient properties and continued access to vital community support services.