Progress Housing Group is a not-for-profit housing provider based in Lancashire that owns and manages 12,400 homes across the UK, including 4,200 supported housing units.

It is also one of the largest suppliers of specialist housing in England across 103 local authority areas for people with a learning disability, autistic people and those with a mental health condition. Its vision is to ensure everyone has a place to call home and the opportunity to live their best life.

Progress Housing Group has been a customer of Danske Bank since 2021, when a £50m revolving credit facility was provided. The facility was refinanced and uplifted to a £80m hybrid revolving credit facility / term loan to partly finance both Progress’ new development and retrofitting programmes. Over the next five years, Progress Housing Group plans to complete 800 new homes, consisting of a mix of affordable rent and shared ownership properties, as it works with partners to meet housing need in local communities.

Investing in existing homes is also a high priority for Progress Housing Group to ensure they are maintained to a high standard and to support its environmental sustainability strategy. Over the next five years, £14.5m per year will be invested in the Group's existing properties to ensure they meet net zero, health and safety and regulatory targets.

Andy Speer, Progress Housing Group's Executive Director (Finance and Corporate Services) said:

"We are thrilled to have secured an £80m long-term facility with Danske Bank, which restructured an existing £50m revolving credit facility.

“This significant investment will refinance the Group’s maturing debt and support our ongoing commitment to providing high-quality, energy-efficient homes that our customers are proud to call home. We are dedicated to reducing carbon emissions and creating a better environment for the future.”

Terri McCullagh, Relationship Director, Danske Bank, said:

“We are really pleased to have agreed this new facility with Progress Housing Association and look forward to supporting the significant programme of refurbishment of its existing housing and development of new energy efficient homes.

“Danske Bank continues to be committed to the social and affordable housing sector across the UK, and we are delighted to be able to announce such a significant transaction in England at a time when the need for housing is so acute across the country.”