ROYAL Bank of Scotland, part of NatWest Group, has provided an update on its ambition to provide £5 billion in new lending to the UK social housing sector, with the bank confirming £2.8 billion has already been provided up to 31 August 2024.
The bank said this progress means it has been able to support even more delivery and maintenance of housing within the sector.
Notable projects and partnerships delivered by the bank include a £96 million loan to Aberdeen-based Grampian Housing Association (GHA) to finance the development of 1,000 new sustainable homes in the region.
The bank has also committed to improving supply chain skills to help drive retrofit projects, and last year launched a partnership with Supply Chain Sustainability School to help deliver this.
A regional tour of the school comes to Scotland on October 29.
Paul Thwaite, CEO of NatWest Group, said, “Put simply, the UK needs more homes. That’s why Royal Bank of Scotland is committed to boosting house building through its strong pipeline of lending to the sector. We’re making good progress, and are ahead of our ambition to provide £5 billion in lending for UK social housing by the end of 2026. This lending will help to deliver more homes, stimulate local economies and provide greater stability to individuals and communities throughout the UK.”
