North West landlord loaned £25m by major bank as it targets EPC compliance by 2029

South Lakes Housing has three years to improve 14% of its homes to meet its goal. The landlord has so far spent £4.3m upgrading just over a fifth of its stock.

The association has secured more than £10m in government retrofit grants in the past four years.

It aims to achieve net zero emissions by 2050.

Tony Cox, director of finance at South Lakes Housing, said the NatWest funding allows it to “keep doing what matters most – building more affordable homes and investing in the quality and energy efficiency of the homes we already manage.”

Mr Cox added: “We work across a large rural patch where good-quality, affordable housing is hard to come by.

“Long-term funding like this is also a vote in support of our future plans, helping us deliver our development programme and improve existing homes so residents can live in greater comfort with lower energy bills.”

Martin Skinner, relationship director – social housing at NatWest, said: “This funding underpins our confidence in South Lakes Housing Association and gives the organisation greater certainty over its long-term capital position as it delivers its strategic goals.”

News of the funding comes the same day that NatWest launched a £250m loan fund to help housing associations buy Section 106 homes from house builders.

It also follows the bank’s announcement in February that it aims to lend £10bn to the UK social housing sector over the next two-and-a-half years.