A major housing association in Oldham has announced a transformative £110 million finance agreement with Santander UK, paving the way for the construction of hundreds of new affordable homes and a major upgrade programme for its existing properties.
A Multi-Million Pound Boost for Local Housing
First Choice Homes Oldham (FCHO) has committed to building at least 600 new affordable homes across Oldham and the surrounding region following the landmark deal. Executive director Andy Ewart confirmed the new builds will include a mixture of properties for affordable housing and social rent.
The substantial cash injection will also be directed towards a comprehensive refurbishment of the association's 11,500 existing properties. The primary focus will be on enhancing energy efficiency to reduce carbon emissions and help lower residents' utility bills.
"These are exciting times for FCHO," said Ewart. "The funding will support delivery of FCHO's homes strategy 2025-2028 that includes delivering more properties for social rent to directly support government ambitions for social and affordable house building."
He added, "We also need to ensure FCHO's existing housing stock is fit for the future and meets the needs and aspirations of customers through improved energy efficiency to cut carbon emissions and help reduce energy bills."
Southlink: The First Major Project
A significant portion of the new funding has already been allocated to a flagship development at Southlink in Oldham. This project aims to bring 147 affordable and energy-efficient homes to a brownfield site that was once the location of the former Mumps railway station.
FCHO, in partnership with the national developer Vistry Group, has submitted a planning application to Oldham Council for the new neighbourhood. The proposed scheme includes:
- Three four-storey apartment blocks containing 28 one-bedroom and 69 two-bedroom flats.
- Rows of terraced, semi-detached, and detached houses with three or four bedrooms.
More than half of these homes will be offered for social rent, with 40 available for shared ownership and a further nine for a rent-to-buy scheme.
Driving Energy Efficiency and Future Ambitions
Beyond new construction, the Santander funding will accelerate FCHO's environmental goals. The housing provider plans to use the capital to improve insulation and upgrade energy sources across its portfolio. A key target is to raise all its homes to an Energy Performance Certificate (EPC) rating of C or above by 2030.
This financial agreement follows closely on the heels of FCHO joining JV North, a consortium of housing associations dedicated to delivering new homes under the government's extensive £39 billion Social and Affordable Homes Programme.
The combined moves signal a period of significant investment and expansion for affordable housing provision in the Oldham area, addressing both the urgent need for new homes and the pressing challenge of improving the sustainability of existing ones.
