NatWest Group has announced a new package of targeted lending and support for U.K. social housing, aimed at supporting local housing authorities and homeowners alike in the face of ongoing economic pressures.
Through a new ambition of £5 billion (€5.8 billion/$6.3 billion) of lending during the three years from Jan. 1, 2024, to year-end 2026, the bank is aiming to support the delivery and maintenance of social housing in the United Kingdom, which is vital to the people and families who rely on affordable housing, as well as the wider economy.
According to a recent report by CEBR, National Housing Federation and Shelter, social homes are more stable than private renting, as tenancies are secure, leading to better socioeconomic outcomes and increasing rates of employment.. The report also found that in 2023 there was a net loss of nearly 12,000 social homes, while 1.3 million households are on a waiting list in England.
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