Lloyds Banking Group has announced £500m of new finance to support small and specialist social housing providers.
The finance, which builds on the delivery of the group’s original £200m commitment launched in 2024, is designed to help smaller housing associations and specialist providers access long-term capital to deliver and maintain social and affordable homes across the UK.
The initial £200m announced in 2024 is expected to increase the UK’s affordable housing supply by around 900 new homes and the extended £500m commitment could boost this by a further 2,000 homes.
Charlie Nunn, group chief executive of Lloyds Banking Group, said: “Small and specialist housing providers are uniquely connected to communities across the country and our new £500m commitment will boost their impact and delivery for those most in need. There is no single solution to the housing challenge but, with greater cross-sector collaboration as we’ve seen through the Social Housing Initiative, we can generate the finance, ideas and partnerships required to increase the supply of genuinely affordable homes.”
Housing secretary Steve Reed added: “Building more social and affordable housing will get people out of temporary accommodation, off waiting lists and into their own homes. Alongside this government’s £39bn programme to fund new social housing, Lloyds’ commitment to small and specialist housing providers is exactly what we need.”
