Magazine article Public Finance

RSLs 'Should Borrow More'

Magazine article Public Finance

RSLs 'Should Borrow More'

Article excerpt

Calls for social landlords to fund a larger share of new housing through private borrowing have been backed by a senior civil servant.

Richard McCarthy, director general for programme, policy and innovation at the Department for Communities and Local Government, told finance directors that housing associations must be more willing to take risks and use their assets to raise money from lenders.

Speaking at the National Housing Federation's finance conference at Warwick University on March 22, he said it was time for some associations to put a little more spark' into their balance sheets. 'You need to achieve those efficiency gains and sweat those assets,' he said.

Last month, the Housing Corporation argued that registered social landlords have the capacity to raise an extra £6.8bn in private finance - so allowing the corporation to cut the proportion of each home funded through grant from an average of 44% to 34%. …

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