THIS WEEK IN 1980: A rejuvenated Abbey habitat for Southsea

A multimillion pound mortgage fund was set up by the Abbey National Building Society to finance improvements to more than 500 homes in Southsea.
Homes in the Stansted Road improvement area at SouthseaHomes in the Stansted Road improvement area at Southsea
Homes in the Stansted Road improvement area at Southsea

The society’s offer to co-operate with Portsmouth City Council in the Stansted Road general improvement area, pictured, marked a major break in building society tradition.

In the past, the societies had been reluctant to lend money on older terraced housing –a policy which was blamed for creating slums out of potentially useful housing stocks.

Hide Ad
Hide Ad

The Abbey National scheme, backed by a £10m national fund, was announced by the society’s Portsmouth manager, Bill Robbins.

Mr Robbins said that the society would offer mortgage loans for house purchases, and loans to owner occupiers.