Purpose

To seek approval for the amendment of the lender's name in the relevant loan documentation from Homes England to National Housing Bank.

Decision

To re-confirm the Leader’s Decision taken on 26 March 2026 in respect of the approval and delegations for the Manydown Development Vehicle LLP Homes England Loan Facility and  approve the amendment of the lender’s name in the relevant documentation from Homes and Communities Agency (Homes England) to the National Housing Bank.

Reasons for the decision

The change in name has arisen due the government re-organising the role of Homes England enabling it to create the National Housing Bank which will manage and deliver Homes England investment activities.  The approval of this amendment will enable the changes to be made to the relevant documentation and, in accordance with the approved delegation, enabling officers to complete the loan facility.

Alternative options considered

To not approve the change which will result in the council being unable to approve MGC LLP as a member of MDV LLP entering into the NHB loan facility resulting in a potential risk to delivering the Manydown development site.