Beever and Struthers advise on £1.5bn funding for 2,000 new social homes a year

Beever and Struthers provided key financial assurance as major social housing provider Bromford Flagship Limited launched a major funding programme to issue loan notes up to an aggregate value of £1.5bn to fund housing development over coming years.

The firm acted for its client Bromford Flagship Limited, a leading provider of social and affordable homes for rent, on the establishment of the Guaranteed Note Programme.

Bromford Flagship was formed from the merger of Bromford and Flagship housing groups in February 2025, bringing together two of the largest housing providers to create one of the leading and strongest housing associations in the country.

With more than 80,000 homes across east, central, and southwest England, the group has ambitious plans to deliver 2,000 new homes each year making it one of the largest builders of new social homes in the UK.

As reporting accountant, Beever and Struthers was responsible for key input into the process through verification of financial information in the Programme Admission Particulars submitted to the London Stock Exchange's International Securities Market (the ISM) to potential investors and confirmation of the financial position of the group.

The programme establishment also involved specialist financial advisory firm Newbridge, dealers ABN Amro, Barclays, HSBC, Lloyds, MUFG Securities EMEA, NatWest, RBC Europe, and SMBC Bank International, legal advisers Addleshaw Goddard and Devonshires, M&G Trustee Company, The Bank of New York Mellon, and valuers Jones Lang LaSalle.

John Jones, partner and head of corporate finance at Beever and Struthers, said, “We are one of the leading providers of specialist audit and advisory services to housing associations nationwide and were delighted to assist Bromford Flagship with this important project to support their pioneering growth and sustainability targets.”

Paul Walsh, chief finance officer of Bromford Flagship, said: “By putting in place a flexible Euro Medium-Term Note programme and strengthening our sustainable finance commitments, we’re positioning ourselves to deliver long-term investment in new and existing affordable, energy-efficient homes across our communities.

"These frameworks give us the tools to access the funding we need to meet our ambitions and work with investors who share our commitment to making a lasting difference to the communities we work in and enabling our customers to thrive.”

As the UK’s No.1 auditor of social housing providers, Beever and Struthers continues to play a pivotal role in supporting the sector’s strategic funding and growth initiatives.

With strong expertise in the regulatory, financial, and operational frameworks that govern social housing, the firm remains a trusted partner to housing associations nationwide helping them deliver sustainable, affordable housing for communities across the country.

Maria Hallows, executive partner and head of social housing at Beever and Struthers, said: "The social housing sector is at the heart of our firm’s growth strategy.

"It represents not just a vital part of our client base, but a space where we can contribute meaningfully to long-term social impact.

"Our continued investment in this sector through audit, assurance, and strategic advisory services reflects our deep commitment to supporting housing providers as they tackle some of the UK’s most pressing challenges, from affordability to sustainability.

"We're proud to stand alongside organisations like Bromford Flagship as they drive innovation and deliver safe, affordable homes at scale.”