NatWest Group has announced new £5 billion package of targeted lending for UK social housing.
The bank said that the money would support local housing authorities and homeowners in the face of ongoing economic pressures.
The package, which will run until the end of 2026, aims to improve living conditions in existing properties as well as build new ones.
NatWest said the lending could help the housing associations sector finance energy efficiency and environmental solutions which would improve the quality of social housing in the UK.
Robert Begbie, chief executive commercial & institutional banking, NatWest Group said that in 2023 the company completed nearly £3 billion of new funding to help more people access housing.
“We support around 200 housing associations across the UK, and are proud to announce our ambition to provide a further £5 billion in funding to support the housing association sector by the end of 2026,” he added.
The bank has previously announced similar financing schemes for social housing.
In February 2021, NatWest issued a €1 billion affordable housing social bond, the first of its kind by a UK bank, using the bond proceeds to finance or refinance loans to not-for-profit registered housing associations operating in the UK.
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