Unity Trust Bank, a specialist bank for social economy organisations, has facilitated in the development of homes for 18 families near Inverurie, Aberdeenshire following a working capital loan of £1.29m to Castlehill Housing Association.

The Port Elphinstone development includes a mix of one, two and three-bedroom homes, with 12 properties available for affordable rent and six for mid market rent.

Gordon Allan, Relationship Manager for Scotland at Unity Trust Bank, said: "As a leading supporter of the community finance and social economy sectors, we seek to put social change and community benefit at the heart of our banking and lending services.

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"Supporting housing associations to develop homes in Scotland and ensuring families and individuals can live in safe, comfortable and affordable housing is a key driver for us and meets our aims to deliver tangible social impact in local communities."

Geoff Helme, Director of Finance & Corporate Services at Castlehill, added: "We are extremely excited to have Unity Trust Bank boost our finances. With such a high demand for social housing in the local area and the rest of Scotland it is important that housing associations are able to provide for both individuals and families.

"With government funding and the availability of grants under pressure in the current economic climate, many housing associations are looking for fair and cost effective banking services."

(JP/CD)