Loan plan for cheap houses in Edinburgh

A HOUSING association is set to benefit from a £25 million loan facility to create more funding for affordable housing.

East Lothian Council has agreed the facility for East Lothian Housing Association (ELHA).

The agreement would see the council borrow money from the UK Treasury at low rates.

Councillor Stuart Currie, the council's housing leader, said: "This new arrangement gives ELHA some security knowing that finance will be available when opportunities present themselves."