Finance news: Barclays expands Scottish housing scheme

Barclays has extended its social housing programme in Scotland by putting up £300m in loans.

The bank's social housing team is set to offer short, medium and long-term loans to housing associations.

Allan McKeeman, Barclays' head of education and social housing in Scotland, said all Scottish housing associations were eligible to apply. "We will look at all applications for all types of development," he said.

"Considering the current levels of activity in the market with regards to new developments, large-scale voluntary transfers and refinancing, there is now a real opportunity for Barclays to add value to the sector."

The move complements Barclays' existing investment in social housing in the rest of Britain.

It adds impetus to the bank's strategy of trying to provide debt and other banking services for large-scale voluntary transfers and to existing housing associations that want to refinance their portfolios.

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