The Welsh government has made £90 million in low interest loans available to social landlords, which it says will support the delivery of 277 affordable homes, with 119 to be delivered this Senedd term, and improvement works to 4,397 existing homes.

The loans will range between £5m and £10m and, the government says, highlight its continued commitment to achieving value for money and maximising all avenues to increase affordable housing supply.

The government introduced the loan scheme in 2023-24, issuing more than £75m in loans to social landlords to bring forward over 450 additional homes.

The Cabinet Secretary for Housing and Local Government, Jayne Bryant, recently visited the Michael Groves development in Llanharan managed by Valleys to Coast – homes that were delivered under the previous loan scheme.

She said: “We have been listening and working closely with the sector to help them navigate the escalating costs of building homes and borrowing.

“The homes here in Michaels Grove exemplify the real power of this type of funding to deliver beautiful homes that are affordable to run and that enrich our communities.

“We need more affordable and energy efficient homes now and for the future and it is so important that we continue to explore innovative ways to increase the supply of housing for individuals and families across Wales.”

Joanne Oak, Group Chief Executive of Valleys to Coast, said: “This funding has allowed us to secure nine additional homes for families as part of a wider acquisition of 20 homes at this mixed development site.

“We are grateful to the Welsh government for its support in enabling us to deliver the best possible affordable housing solutions and support for local people, helping us create safe and happy homes and communities where our customers feel they belong.”