NatWest pledges £10bn to social housing by the end of 2028

NatWest has pledged to lend £10 billion to the UK's social housing sector by the end of 2028, after meeting a previous £7.5 billion target a year early. The bank says the funding will be channelled to housing associations for new homes, upgrades and energy-efficiency projects.

NatWest has pledged to lend £10 billion to the UK's social housing sector by the end of 2028 after meeting an earlier target ahead of schedule. The bank said the funds will be directed to housing associations to support building new homes, upgrading existing properties and improving living conditions. Some lending will also be used for energy efficiency and retrofit projects. NatWest reported that its total funding into the sector has topped £25 billion since 2018, and Chancellor Rachel Reeves linked the pledge to the government's wider housing programme. Key facts: - NatWest pledged £10 billion in lending to social housing to be delivered by the end of 2028. - The bank reached a previous £7.5 billion target a year early, which had been set for 2024–2026. - Funds are intended for housing associations to build new homes, upgrade properties and improve living conditions. - Some lending will support energy-efficiency and retrofit work. - NatWest said total funding into the social housing sector has exceeded £25 billion since 2018, according to the bank. Summary: The pledge extends NatWest's stated support for the social housing sector through to 2028 and is presented as funding for new construction, upgrades and environmental improvements. Undetermined at this time.