Lloyds Bank - already a player of growing importance in the Build To Rent niche - is now to publish what it calls a ‘White Paper’ on its plans for all aspects of the rental sector.
This will be revealed at a Housing Forum, being hosted this week by the bank, which will bring together policy makers, chief executives and others in the debate to discuss how housing can become more widely available in the social and private sectors.
The news comes as the bank reveals that it’s growing to redevelop its redundant data centres and former office sites into new social housing projects, with the first such conversion happening in 2026 in Pudsey, West Yorkshire.
Lloyds Banking Group is also making a new £200m financing commitment to support local providers of housing, including those focusing on preventing homelessness or supplying properties for individuals with special needs.
Lloyds claims that it’s already “the biggest supporter of social housing in the UK” working with over 340 housing associations of all sizes.
Through its subsidiary Citra Living - which until now has been involved only in Build To Rent - the bank claims it will acquire suitable homes and work in partnership with housing organisations and local authorities to lower the costs of providing suitable and good quality accommodation for families who are currently living in temporary accommodation.
The initial pilot scheme will begin next month in Cambridge, with plans to roll out to other cities across the UK. The homes will be sourced to address the particular needs of local authority areas. The pilot will focus on directly supporting families currently presenting as homeless or those in temporary unsuitable accommodation.
Lloyds Banking Group chief executive Charlie Nunn says: “Everyone has the right to build a future from the foundation of a secure home. Social housing is part of this country’s critical infrastructure, and we need to direct and increase investment into the right homes, in the places they’re needed most.
“Lloyds Banking Group has provided £17 billion of support to the sector since 2018 and today we also have announced our plans to redevelop decommissioned Group data centres and former office sites for new housing projects - and I would encourage others to also consider this.
“We’re also making a major financing commitment to housing providers, and through Citra Living we will own good-quality homes to be made available for those most in need. In partnership across the private, public and third sectors, we can create more good-quality, genuinely-affordable homes.”
Citra Living is the Build To Rent offshoot of Lloyds Banking Group: it owns and operates a portfolio of more than 2,000 homes across the UK.
In June it started work on a £13m Build To Rent scheme in Nottingham. A month ago earlier it acquired 156 new properties from the country’s largest house builder Barratt as part of a strategic partnership between the two.
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The are all heart aren't they.
Its great news that a big company wants to enter into the social housing market - I just wonder how they think they will make a profit here when no-one else seems to be able to to provide affordable, quality housing at scale.
Good point. I have long doubted that corporates will make sufficient profit from BTR.
We may see the evidence in decaying unaffordable slums of the future.
Lloyd's have a lot of redundant data centers and other commercial properties with their advent of technology, needing less staff for mundane operations. They would find it difficult to sell those commercial properties at a profit, except to maybe property builders. So they are building for social housing and housing associations to maintain and administer these properties. Well everyone knows housing associations are notorious and do not maintain or administer any properties. So well thought out plans may not work and evidence will show up in a few years. Social tenants are not all perfect tenants. I have read that Lloyd's also will to sell slices of theses properties to the tenants, help them to save for the deposit first. Let us see, as they think it is all roses and cream. I still believe the tenants need educated to take responsibilities forbtheir homes, first and foremost. I would go as far as to say there are rogue tenants than landlords.
Most of these data centres, old redundant banks and other commercial properties will be town and city centre buildings. There is no way they will be for social housing, they will be high end developments without a single scruffy fkr in sight never mind the XL Bully.
Lets see generation runt take the big boys on now
How will the big companies handle the none paying tenants, will be interesting to see, and likely quite funny to watch
Andrew-They will put up the rent for the compliant tenants so counter their losses.
Popcorn 🍿 at the ready 😂😂 Cannot wait to see Waynetta Slob and her brood complaining to Lloyds about the drugged up waster causing ASB next door 😱😂😱
The Big Boys are coming move over make room for them, get out of the way, any pennies dropping yet.
Of Course they’ll make money £2’000. pm to Rent a one bedroom Flat in Greenford & Wembley, Corporate special concession's.
I get less for a 4 bedroom house and haunted by Regulations and costs by Council.
Homeless man living in vicinity of Hanger Lane Tube Station, my friend and his wife used regularly check on him, sadly today RIP, don’t know the underlying cause if not obvious, this is too much to be happening, its one thing to die in your bed or in Hospital.
Risky business. Homereit have just gone bust after blowing £200m in the same exercise and then racking up £220m in debt. Everyone is trying to cash in on the universal credit/incentive fee wave. What none of them realise if the rent is far from guaranteed and its one of the most complex areas of the PRS. Unlocking the reliability of a UC rent and therefore the assurance of a sound investment is no easier that finding a formula for world peace anyone would back with their wallet.
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