A blossoming partnership for Charter

£20 million funding
Charter Housing Association Limited (“Charter”) has been providing affordable homes for 40 years and manages nearly 5,000 homes across Newport, Caerphilly, Torfaen and Monmouthshire.

Participation in the £156 million M&G club deal offered Charter the opportunity to not only diversify its lending, but also fuel the development of an exciting garden village development in the centre of Newport, South Wales.

Charter is committed to providing great service to its tenants. This service goes beyond just maintaining homes and embraces a wide range of tenant services, including money advice, IT training and parenting support. Charter is part of the Pobl Group, a group formed of like-minded organisations providing housing and support that makes a real difference to people lives, across South Wales.

Charter is spearheading the transformation of a 16-acre brownfield site in Newport. The Loftus Garden Village will offer 250 arts and crafts style homes, each with its own garden. The development will create a village feel right in the heart of the city by providing a community garden space, a naturalistic children’s play area and a kitchen garden.

Wayne Fox, Director of Finance at Charter Housing, said, “We have relationships with a number of lenders, but we have found M&G refreshingly straightforward to work with. The M&G team has a very sound knowledge of our sector and the deal process was very fair and balanced.”

Mark Davie, Head of Social Housing at M&G, said, “Interestingly, Charter didn’t necessarily need to access the club deal to gain the funding they were looking for because of their size. They decided to participate because of their desire to work with us – a very flattering endorsement of the quality and professionalism of M&G.”