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The East Ayrshire charity, celebrating its 25th anniversary, is using part of the loan to expand its operations by acquiring properties for resale on the open market, allowing it to strengthen its presence in its local communities.

However, the majority of the funding is earmarked for Atrium Homes’ comprehensive modernisation initiative. The endeavour involves the refurbishment of almost 900 pre-existing residences, not only bringing them a sleek and modern aesthetic but addressing energy efficiency where possible and ensuring the properties are fit for 21st century living.

As a result, the refurbished homes are set to meet or exceed EPC standards, attaining a minimum of a C rating. This means tenants will be less susceptible to uncertain and fluctuating energy bills, allowing for a greater peace of mind amidst the cost-of-living crisis.

As a part of the deal, Atrium Homes negotiated a revised covenant suite, allowing for more flexibility when assessing the capital investment needs for tenants’ homes in the short to medium term, demonstrating the social landlord’s commitment to bettering the lives of those it serves.

Being a not-for-profit organisation, Atrium Homes is committed to reinvesting all additional capital back into the homes it services.

Shannon Watson, chief executive at Atrium Homes said: “We are wholeheartedly committed to not just providing a house for our users but a place they can call home, build a life, and raise a family. That is why we are so pleased to announce our latest funding deal that will make this a possibility.

“Being proud of your home is so important, but feeling secure and warm is even more so. We want to ensure that as many people as possible are provided with homes that are modern and fit for use.”

Alan Newlands, relationship manager at The Royal Bank of Scotland, added: “At The Royal Bank of Scotland, we have a wealth of experience when working with social housing associations and as a valued and existing customer, we know that Atrium Homes has brilliant foundations to work with.

“It is clear to see from every decision the business takes that their service users are at the core of everything they do. We’re proud to support their mission and see Atrium Homes move forward with their vital work.”