Trowers & Hamlins advises Blend Funding Plc on £350 million loans to Vico Homes, WHG and Aster Group

Trowers & Hamlins advised Blend Funding Plc (part of The Housing Finance Corporation group) on £350 million of new loans to Vico Homes Limited, WHG and Aster Group. The financing package is intended to support the delivery of new affordable homes and to provide the three borrowers with flexible and affordable liquidity to advance their strategic plans. Blend made available a £150 million facility to Vico Homes; the funds were raised as part of a £250 million tap of Blend’s seven‑year bond on 18 November 2025, which achieved a yield of 4.999%. Of the proceeds, £100 million has been retained for future Blend drawdowns. The £150 million facility supplements an existing £100 million loan that Blend provided to Vico Homes in 2020. Vico Homes is a registered provider with over 32,000 homes across the north of England. Blend made a £100 million facility available to Aster Group, structured to permit drawdowns in multiple instalments to provide flexibility for Aster, which owns nearly 38,000 homes. The £100 million facility to WHG is split into two £50 million tranches; the second tranche is an optional instalment that will not incur fees unless WHG chooses to draw it. WHG granted its loan security to Blend under a security trust deed with Housing Finance Trustee Limited acting as security trustee, streamlining the management of the security arrangements for both parties. Trowers & Hamlins represented Blend Funding Plc (part of The Housing Finance Corporation group) with a team composed by: Partner Imogen Fisher; Senior Associate Lara Marsden; Managing Associate Jasna Djurisic; and Associates Rob Woolliams and Lowri Fernyhough.

Trowers & Hamlins advises Blend Funding Plc on £350 million loans to Vico Homes, WHG and Aster Group

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