Stonewater boosts development pipeline with £75m loan

According to Inside Housing’s recently published list of Biggest Builders, last year the landlord built the eighth-highest number of homes of all housing associations.

In 2024-25, Stonewater completed 1,043 new homes, including 242 for social rent and 395 for affordable rent.

This was lower than the 1,206 homes completed the year before, a reduction that Jonathan Layzell, chief executive of Stonewater, said was down to the organisation taking on larger sites.

Stonewater has now built more than 40,000 homes, and has a target of building 1,500 homes a year, according to its strategic plan.

Anne Costain, chief financial officer of Stonewater, said the loan from RBS, which is part of the NatWest Group, will be “integral” to ensuring the delivery of the housing association’s corporate plan and the building of new homes.

“Continuing our strong and enduring relationships with financial partners like the Royal Bank of Scotland is vital to the continuation of our dedicated work to providing affordable housing across the country.

“We’re grateful for the ongoing support and the guidance and legal expertise of everyone involved.”

John Horton, relationship director at NatWest real estate finance, said: “We are delighted to support Stonewater with funding which will enable the social housing provider to move forward with its exciting growth plans.”

NatWest recently announced plans to increase its funding goal for the social housing sector from £5bn to £7.5bn by the end of 2026. The bank hopes the boost will help the sector deliver a pipeline of new homes and improve existing stock.