RIVER Clyde Homes have revealed a new £38million plan to bring their 6,000 houses up to scratch.

Housing bosses hailed a 'landmark' refinancing programme as an opportunity to invest in their existing stock across Inverclyde.

The say it allows them to have a renewed focus on the maintenance and 'future proofing' of their estate.

Bosses told the Telegraph they hope to upgrade houses so they can reduce bills for householders by making properties more energy efficient.

Inverclyde's largest housing association has signed a deal with Nationwide that will provide £10 million of finance as well as a restructure of £28 million pounds.

RCH executive group services director John Wright said: “We are pleased to have continued our long-standing relationship with Nationwide Building Society as a key funding partner.

"Securing this £38m funding increases our overall portfolio facility to £155m, which is a major landmark for RCH.

"This funding will help raise living standards for tenants through modernising and future-proofing existing homes with a focus on sustainability and energy efficiency.”

River Clyde Homes employs around 300 people and on top of their tenants, also provide factoring services to 2,000 customers.

Now they have completed their new build programme, the housing association are looking to improve their homes.

RCH says the announcement means it will be able to pursue five key investment priorities for tenants.

These are providing increased thermal comfort, reducing energy demand (and therefore bills), improving air quality, lowering carbon emissions, and creating future-proofed homes that will 'stand the test of time'.

Heidi Billington, Nationwide Building Society's director of property finance and public lending, said: “As the world’s largest building society, Nationwide exists to ensure that everyone has a place fit to call home.

"This same social purpose has underpinned RCH’s approach to supporting its tenants and local community.

"Nationwide is delighted to continue its long-standing relationship with RCH and to help facilitate the ongoing investment to make the stock more sustainable and energy efficient, which supports Nationwide’s commitment to supporting greener UK homes.”

Peter Freer, Allia C&C Debt Capital Markets Director for Scotland, said: “We were delighted to support RCH with this fundraising exercise, helping it to achieve an ideal solution with its existing lenders. It has been a pleasure working with RCH to secure the funding that will enable it to deliver its ambitious plans for regeneration and energy efficiency investment across its stock in Inverclyde.”