Jersey social housing provider gets £60m boost

Jersey's largest independent social housing provider has received a £60m funding boost, which it says will continue its long-term investment in affordable housing.

The Jersey Homes Trust's (JHT) said the new funding would lead to a new financial arrangement, with the money provided by UK savings and investment company M&G Investments.

Phil Le Cornu, chair of the trust, said the funding would help replace all existing loans but would not impact any current JHT tenants.

He said: "It's simply a way for the trust to plan for and meet future housing demand in this sector."

Mr Le Cornu added: "This arrangement enables us to maintain a healthy cash flow for reinvestment into island housing stock for the next 25 years.

"We remain dedicated to addressing the needs of islanders.

"Our ongoing development projects and management efforts continue to make a significant impact on the island's housing landscape, helping to alleviate the strain on families in need of safe, stable, and affordable accommodation."

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