The Housing Finance Corporation (THFC) has set out plans for the next stage of its corporate strategy, following the strongest set of financial results in its 37-year history.

THFC, an affordable housing aggregator and mutual lender, has provided financial solutions to housing associations for almost four decades.

Its annual results to 31 March 2024 show a £7.95bn loan book and a pre-tax surplus of £8.0m, marking the highest in the business’ history. This takes reserves to over £62m, representing a more than doubling over the last seven years.

THFC says the results will provide it with the foundation to embark on the next phase of its corporate strategy, which centres on growth and delivering new innovative financial solutions.

The lender will now focus on unlocking new forms of private capital and creating new partnerships between the market and the sector, with the aim of developing a much broader suite of financial solutions to enable housing associations to deliver.

Priya Nair, chief executive of THFC, said: “THFC was born 37 years ago, and the landscape has altered dramatically since then.

“HAs’ mandates are more complex than ever before and borrowing capacity remains constrained. This calls for innovation and that is what THFC’s new corporate strategy is focused on. Our latest financial results, alongside our unique, trusted position in the market, positions us perfectly to deliver.

“Our ambition is to play a central role in catalysing a wider range of financial solutions, to unlock new forms of private capital and meet the diverse needs of our client base.”

Arun Poobalasingam, chief partnerships officer at THFC, said: “Ultimately, THFC is focused on delivering social value and helping to solve the housing crisis. To turn the dial, more innovative financial solutions are needed. Partnerships will be key and that is why they lie at the heart of our strategy – partnerships with investors, with HAs and with policymakers.”