MORE affordable homes could be built in Basildon and Castle Point.

Swan Housing Group has been given £140million in a deal led by the Royal Bank of Scotland (RBS), with Lloyds TSB and Allied Irish Banks.

Some of the money will be spent on new affordable house-building projects in south Essex, although the group could not confirm where or how many houses would be built.

The group currently manages homes in the Five Links, Craylands and Fryerns estates, in Basildon, where some of the funding will be spent on refurbishments.

Improvements include fitting new kitchens, bathrooms and making sure the homes meet Government standards for affordable housing.

Paul Edwards, director of treasury services at Swan Housing Group, said the deal showed the strong relationship between the banks and the group.

He said: “It’s a testament to the strength of the relationship between RBS and Swan that during these unbelievably difficult market conditions, we have secured new funds to enable the group to continue its successful growth.”

The housing group could not confirm how much was to be spent in south Essex, as some of the money will be spent in east London and Suffolk.