[vc_column_text css=”.vc_custom_1747144376077{margin-bottom: 0px !important;}”]Despite enjoying strong credit ratings and an impeccable track record, most Housing Associations still issue bonds on a secured basis – a practice that may be doing more harm than good.
While this might have made sense in the 1990s, today it adds significant cost, complexity, and limits market access – without clear benefits to investors or issuers. Notably, the FCA’s classification of secured bonds as “complex” could restrict access to retail investors, putting HAs at a long-term disadvantage.
So why hasn’t the sector followed the lead of property companies and utilities in shifting to unsecured borrowing? And what is the true cost of maintaining the status quo?
Read Allia C&C’s full analysis to explore why it’s time to reconsider how Housing Associations fund themselves in today’s bond markets.[vc_btn title=”Download Publication” style=”classic” color=”orange” css=”.vc_custom_1747144390819{margin-top: 45px !important;margin-bottom: 45px !important;}” link=”url:https%3A%2F%2Falliacc.com%2Fwp-content%2Fuploads%2F2025%2F05%2FThought-piece-Borrowing-Unsecured-in-the-Bond-Market.pdf|target:_blank”]For press and media enquiries, please contact:
Susan Curtis
Group Head of Marketing & Communications, Allia
susan.curtis@allia.org.uk
01223 781323
For Allia C&C and its services, please contact:
dcm@alliacc.com / 020 3039 3445
