NatWest Group has announced an updated package of targeted lending and support for the UK social housing sector, with a new ambition of £7.5 billion of lending over the next three years.

This increased funding aims to support local housing authorities and homeowners in the face of ongoing economic pressures, and will focus on the delivery and maintenance of social housing across the UK.

"NatWest continues to be a leading lender to the UK social housing sector, and we are pleased at being able to increase our lending to the sector as demand continues to grow," said Robert Begbie, CEO, Commercial & Institutional Banking, NatWest Group. "The sector continues to be a key priority as we aim to help more people and families have access to housing."

-- Advertisement --

The bank's lending will support the construction of new social homes, as well as the improvement of existing properties through energy efficiency measures and other upgrades.

The Royal Bank of Scotland, part of the wider NatWest Group, will manage lending to housing authorities in Scotland.

This announcement follows the bank's 2021 issuance of a €1 billion affordable housing social bond, the first of its kind by a UK bank.

Recent examples of NatWest Group's support for the social housing sector include a £19 million lending transaction for Eildon Housing Association in Scotland and a £30 million loan to Wakefield and District Housing (WDH) in England.

The bank is also actively engaging with The Royal Foundation's Homewards programme, which aims to prevent and end homelessness across six locations in the UK.