Macfarlanes advises ARA Venn on appointment as delivery partner for £3bn Affordable Housing Guarantee Scheme

16 October 2020

Macfarlanes has advised long-standing client ARA Venn, an asset manager of real estate and other secured credit, on its appointment by the Secretary of State for the Ministry of Housing, Communities and Local Government to operate the ‘Affordable Housing Guarantee Scheme’.

ARA Venn will be responsible for establishing and managing the scheme, including origination, underwriting and on-going management of the loans, and developing and managing a new Government guaranteed bond programme to efficiently fund them. Macfarlanes will also be advising ARA Venn in relation to the establishment of the bond programme.

This follows ARA Venn’s previous appointment to the Government’s £3.5bn ‘Private Rented Sector Housing Guarantee Scheme’ in 2014, on which Macfarlanes also advised.

The team for this matter was led by finance partner Richard Fletcher and involved a cross practice team including competition partner Malcolm Walton and senior counsel Fiona Beattie, tax and reward senior counsel Kirsten Prichard Jones and senior solicitor Shaul Steinberg, Head of VAT Chris Mortimer and senior solicitor Charishma Bhujohory, employment partner Hayley Robinson and solicitor John Morgan and finance solicitors Valery Nformba and Kelly Armstrong.

Richard Fletcher comments: “We are delighted to have been able to assist ARA Venn once again on such an important mandate and we look forward to supporting them in relation to this scheme.”