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Scottish landlord secures £8.5m funding for new affordable homes
East Lothian Housing Association has secured £8.5m in funding from the Royal Bank of Scotland to support new affordable homes and tenant services.
Scottish landlord secures £8.5m funding for new affordable homes #UKhousingThe landlord said the funding will support investment in its existing homes and services, as well as the development of 80 new affordable homes in Elphinstone and Blindwells.
The housing association, which has operated locally since 1988, currently manages around 1,500 homes, mainly for affordable rent.
Its new homes pipeline includes 28 homes at Elphinstone West, due from summer and autumn this year, and 52 homes at Blindwells, which are due in phases from autumn.
The Blindwells homes form part of Avant Homes’ Althamer View development, after the house builder agreed a £10.6m deal with East Lothian earlier this month.
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The investment comes as the landlord faces significant affordable housing pressure. East Lothian Council declared an affordable housing emergency in November 2024, while Blindwells has been identified as a major strategic housing site for the region.
The Royal Bank of Scotland, part of Natwest Group, is East Lothian’s main transactional banking partner and a key funder to the organisation.
Gary Alison, director of finance and corporate services at East Lothian Housing Association, said: “This funding marks an important step forward for East Lothian Housing Association, and more importantly, for the communities we serve.
“The Royal Bank of Scotland’s support with this funding package will strengthen and expand our services, helping us support more tenants across the area by building more homes for rent.”
The funding will also support the association’s longer-term plans for sustainable growth, maintenance and investment in existing homes.
Jamie Landa, senior relationship manager at the Royal Bank of Scotland, said: “Affordable housing is central to the resilience of local communities, and we’re pleased to support East Lothian Housing Association with this new funding package.
“With a strong track record of understanding local needs and providing quality homes and services across East Lothian, we’re proud to be East Lothian Housing Association’s primary banking partner and to play a role in fulfilling its long-term ambitions within the area.”
The support forms part of NatWest Group’s wider ambition to provide £10bn of funding to the UK social housing sector by the end of 2028.
NatWest set out the new ambition in February, after reaching its previous £7.5bn social housing lending target a year early.
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