The deal will enable the group to refinance its current debt, increase investment in its housing stock and continue to build new, much-needed homes in Fife.

Fife Housing Group is one of the largest independent housing associations in the East of Scotland, with almost 2,500 properties in communities from High Valleyfield in west Fife to Ceres in the east. Priding itself in its transparency and consistency, the group has made significant improvements to its performance in key areas over the past five years and is now seeing this reflected in customer satisfaction levels.

The finance package will help contribute to the delivery of more than 90 new homes over the next two years, with the organisation looking at a number of potential locations in Fife.

Nicki Donaldson, chief executive at Fife Housing Group, said: “We are delighted to have secured this funding from Royal Bank of Scotland, which gives us the opportunity to further the aspirations we have for the business, and we look forward to working with the Bank to deliver the new homes required to meet the ever-increasing demand for affordable housing.”

David Horne, relationship manager at Royal Bank of Scotland, said: “Fife Housing Group plays an important role in tackling the affordable housing shortage in Scotland and Royal Bank of Scotland is proud to be able to support the business as it continues to create homes which are in such high demand.”