The merger between Housing Plus Group and Stafford and Rural Homes was intended to give the Group greater resilience and to ensure that it would be better placed to withstand significant changes in the macro economic environment, such as changes in government policy or funding.
Throughout 2020-2021, the pandemic presented unprecedented challenges not only to the health and wellbeing of staff and customers but also to the context in which we continued to provide affordable homes and frontline services.
The financial strength of our expanded Group meant that we could protect essential services, maintain safe homes and look after staff, with the procurement team moving quickly at the start of the pandemic to purchase supplies of PPE for frontline colleagues.
We were also able to continue our investment towards our corporate plan objectives, funding the development of new housing, stock improvements and expanding the Group’s care provision with the purchase of The Sandford nursing home in October 2020.
During this financial year, Stafford and Rural Homes increased its Revolving Credit Facility (RCF) with Barclays from £15m to £45m and Housing Plus Group Finance Ltd was able to increase its RCF with Nationwide from £45m to £65m.
This additional funding will help Housing Plus Group in achieving its vision to make a positive difference to homes, lives and communities.