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Amplius secures £65m retrofit and repairs loans from major bank
Housing association Amplius has secured two loans worth £65m from a major bank to accelerate its retrofit and repairs programmes.
Housing association Amplius has secured two loans worth £65m from a major bank to accelerate its retrofit and repairs programmes #UKhousingThe funding from Lloyds Banking Group includes a £30m green retrofit loan partially guaranteed by the government’s National Wealth Fund (NWF), alongside a £35m increase to Amplius’ existing revolving credit facility, taking the total facility to £150m.
Amplius, which owns 40,000 homes, will use the loans to invest in its existing properties across the Midlands, East and South East of England.
The green retrofit loan will help Amplius accelerate improvements to existing homes, including energy efficiency upgrades designed to support “warmer, safer, lower-cost living” for residents.
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It is the seventh agreement Lloyds has completed through the NWF since 2025, following deals with Wheatley, Sanctuary, Orbit, Vivid, SNG and Peabody. Lloyds said it has now allocated over 80% of its £500m social housing retrofit commitment.
The NWF launched a £1.3bn social housing retrofit guarantee scheme in 2024. Under the scheme, Barclays and Lloyds each pledged to deliver £500m of lending, backed by guarantees of up to £750m provided by the NWF.
Meanwhile, the increase to Amplius’ revolving credit facility will strengthen the landlord’s liquidity position as it continues to invest in “essential works” for its existing homes alongside the delivery of new homes across the Midlands, East and South East.
Amplius was formed in 2024 from a merger between Longhurst and Grand Union Housing Group. The funding will help deliver its priorities around repairs, safety, well-being and modernising existing stock.
Rob Griffiths, deputy chief executive of Amplius, said the deal “will help us to improve our affordable housing offer as we ensure we’re doing everything we can to enable people to thrive within the communities we serve”.
He added: “One of the key drivers behind our merger is to go further and do more for our customers and this level of investment will help us provide an even better repairs service and make our homes safer and more energy efficient.”
Jess Tomlinson, global head of real estate and housing at Lloyds Banking Group, said: “With 80% of our National Wealth Fund-backed commitment now allocated, this partnership marks another important step in supporting the sector’s long‑term outlook.”
Stuart Nivison, head of portfolio management at the NWF, said: “This loan, the seventh National Wealth Fund-backed loan to be issued by Lloyds, is a great example of how we’re helping to unlock long-term investment in the retrofit sector.
“This facility will help Amplius accelerate upgrades, delivering warmer, safer and more energy-efficient homes for residents across the UK.”
Amplius increased repairs spending by 6% to £35m in 2024-25. Investment in its major works programme increased from £35m to £40m, while the landlord also ramped up its decarbonisation spending, which leapt from £5m to £16m in 2024-25.
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