Natwest sets out plans to lend £5bn to social housing projects
Natwest has launched a new £5bn package of targeted lending and support for UK social housing.
The bank said the new loans, which will be spread out over the next three years, will allow the development of new homes, as well as the maintenance of current properties.
According to a recent report by CEBR, last year saw a sharp decline in the availability of social housing, with properties available dropping by 12,000, even as 1.3 million households sit on a waiting list.
In 2023, the bank completed almost £3bn of new funding for social housing, and currently supports around 200 housing associations in the UK, having issued the first affordable social housing bond of its kind in 2021.
Robert Begbie, CEO of commercial and institutional banking at Natwest, said: “We are proud to be a major lender to the UK social housing sector, which continues to deal with multiple priorities such as the demand for new and upgraded housing, and the critical challenges of energy efficiency, fire and tenant safety.”