NatWest launches £500m loan to deliver homes for social rent

The £500m loan is part of NatWest’s goal to lend £7.5bn to the sector by the end of 2026, a figure it revised upwards from £5bn thanks to strong demand for bank lending.

NatWest said the loan aimed to address the decline in homes for social rent and “enable housing associations to allocate funds towards improving living conditions within the communities they serve”.

Paul Thwaite, chief executive of NatWest Group, said: “We’re proud to be a major lender to the UK social housing sector and are committed to the role we can play in supporting housebuilding.

“The housing crisis is one of the biggest issues facing our country, which is why we have made a £7.5bn lending ambition to the social housing sector.

“With over 1.3 million people on social housing waiting lists, this is a step in the right direction to help those who need it most.”

Liz Laurence, programme director for The Royal Foundation’s Homewards programme, said: “As a Homewards Activator, NatWest has been doing some great work, so we are excited to build on this and go even further through our work together.

“Homelessness is a societal issue that requires a collective response, and we hope more organisations will be inspired to play their part as a result of NatWest’s significant commitment today.”

In April this year, the government’s National Wealth Fund announced it was teaming up with NatWest to launch a £500m loan portfolio to support social housing retrofit.