MUFG launched its housing finance offering in 2015, which consists of a number of lending products. These include a five – 10-year secured lending by way of either Term Loan or Revolving Credit Facility (RCF), as well as complementary business lines, such as transaction banking, derivatives and capital market solutions.
Family Mosaic's offers homes to rent or buy and it operations include over 25,000 homes for rent that serve more than 45,000 people.
Robert Bartlett, Executive Director, Infrastructure, MUFG, said the bank was delighted to have completed this transaction with Family Mosaic.
“This represents our first bilateral deal within the sector following the launch of our housing finance offering one year ago," he said.
“We have been speaking with Family Mosaic over the past nine months and look forward to building this relationship over the long term. We are particularly pleased that this facility will support Family Mosaic's continued development of affordable new homes, which is at the forefront of government policy".
“We look forward to enjoying a long and jointly beneficial relationship with MUFG. This new facility supports the funding requirements for our ongoing 10,000 unit development programme."