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Independent treasury and funding advice to UK housing associations.

JCRA’s Social Housing team has over 30 years of experience offering independent treasury and funding advice to UK housing associations.

We provide debt restructuring and refinancing advice, debt capacity reviews, M&A evaluations, hedge and derivative management, and also assist you with reporting on treasury governance and objectives.

With broad experience, including capital markets, banking and treasury, our team of specialists provide independent counsel to housing association management teams and boards allowing you to demonstrate value for money in your debt outcomes and treasury decision making.

How we help

Treasury Advice

We help UK housing associations and other social infrastructure organisation to manage their treasury functions effectively by developing policies and practices that best mitigate risk without restricting resources.

We ensure that your business plan is fit for purpose and accommodates wider market conditions as well as your specific circumstances.

We will design a funding strategy that is aligned with your business ambitions and the market conditions, taking advantage of low rate and arbitrage opportunities to reduce costs and risks simultaneously.

Debt Advisory

We will analyse your existing debt portfolio to identify value and constraints ahead of a restructure or new funding requirements.

We take a clear and structured approach to debt analysis by reviewing your existing facilities and comparing their conditions with your group structure, requirements, and goals and ambitions, to reveal where your debt supports your objectives and where it hinders them.

To restructure a portfolio, we will renegotiate terms with banks and investors on your behalf and will source the most suitable counterparties.

We arrange or advise on over £2bn of new funding per year, which gives us the market knowledge to determine the best approach, as well as unique insights into banks and capital market investors to achieve the best results for you.

Interest Rate Hedging

We advise clients on how best to protect their business against volatile markets. We will design an optimal hedging strategy that is in aligned with your business objectives, providing support throughout the hedging process, including execution.

Our team has considerable experience in the derivative markets, as well as strong relationships with counterparty banks.

For many clients, optimising their level of protection does not mean decreasing their unhedged exposure, but instead reducing costs or increasing flexibility through restructuring existing instruments.

Credit Ratings

We will help you to obtain a credit rating that supports your ambitions. Our understanding of the process and agencies enables us to advise the best course of action, whether to pursue a rating or not.

We will support you in the selection of the most suitable rating by modelling your business and providing an indicative rating for you from each major agency. Comparing this analysis with our knowledge of the appetites and criteria of the agencies, we will give you a clear picture of the choices available to you and suggest the most suitable agency for your unique circumstances.

We will then manage the process of obtaining a rating for you.

We have helped over 20 organisations to obtain and maintain a credit rating – with most of these placed in the upper half of the sector.

Mergers and Acquisitions

We help clients that are considering or pursuing a merger opportunity. We can provide high level financial, operational and feasibility analysis, to help clients create a business case for the project.

We will discover and then develop solutions to tackle specific requirements. These may be gaining consent from lenders, or the client’s ability to remain compliant when taking on a new suite of covenants and a new portfolio of debt. We will work with you to identify the optimal solution and then assist with the execution of the plan.

Social housing Insights

Leading Social housing Experts

View full team
Adrian Bell Director

T: +44 (0)207 493 3310
Email Adrian

Henrietta Podd Director

T: +44 (0)207 493 3310
Email Henrietta

Alex Morgan Director

T: +44 (0)207 493 3310
Email Alex

Michael Leslie Director

T: +44 (0)207 493 3310
Email Michael