NatWest has committed to lending £10 billion to the UK’s social housing sector by the end of 2028, surpassing a previous funding target a year early. The bank’s new pledge aims to support housing associations in building new homes, upgrading existing properties, and improving living conditions for low-income households and those needing additional support.
Chancellor Rachel Reeves welcomed the investment, stating it would help deliver thousands of affordable homes for families priced out of homeownership. She highlighted the government’s broader commitment of £39 billion for a new social and affordable homes programme and 10-year rent certainty for the sector.
A portion of the lending will also fund energy efficiency and environmental improvements, including retrofit projects. NatWest noted that its total funding into social housing, through commercial loans and capital market support, has exceeded £25 billion since 2018.
The bank achieved its previous £7.5 billion target set for 2024 to 2026 a year ahead of schedule. Paul Thwaite, chief executive of NatWest Group, said reaching that goal early demonstrated the strong demand for social homes across the market.
