A £6.5m loan which was given to support a community-led development in Haddenham has been repaid. 

Cambridgeshire and Peterborough Combined Authority confirmed it received the repayment on January 27 ahead of the redemption date on March 31. 

The loan was made to East Cambs Trading Company (ECTC) to support a development that delivered affordable housing for rent and sale in West End Gardens. 

The development has delivered 54 units, 19 of which are affordable homes which have been transferred to Haddenham Community Land Trust (HCLT). 

HCLT will manage these 19 new homes, ensuring that they remain affordable and available for local people for the long-term. 

Speaking of the repayment, chair of the housing committee, Cllr Bridget Smith , said: “It is very welcome to have received the repayment loan in full, especially two months ahead of schedule. 

“These new homes in Haddenham are a gateway to home ownership for people local to the area and it has been a wonderful effort by all concerned to deliver them. 

She added: “I wish all of the new residents of West End Gardens the very best for their futures.” 

Paul Remington, Chairman of East Cambs Trading Company said: “We’re delighted to have been able to repay the loan back to the Cambridgeshire & Peterborough Combined Authority two months early. It is thanks to the hard work of the team that we have been able to achieve this.

“West End Gardens is almost fully occupied, so we are now focussing on finalising the development and bringing forward other projects to provide much needed, high-quality housing for the local community.”