SNG secures £250 million funding deal from NatWest to be used for new homes programme

We’ve secured a £250 million funding deal with NatWest to support plans to build more than 25,000 homes over the next decade. The funding will also support the roll out of our sector-leading Homes and Place Standard to all the homes we manage.

The deal follows the launch of our £1.5bn Euro Medium-Term Note (EMTN) programme. The EMTN establishes the framework and documentation, enabling SNG to improve our access to debt capital markets and augment our existing £1.2 billion of public debt funding. The funds from this programme will be allocated according to our Sustainable Finance Framework and will support us in developing affordable housing across London and the South of England. NatWest was the sole arranger from SNG’s relationship banks to help establish the programme.

Anup Dholakia, Director of Treasury at SNG, said: “Building more genuinely affordable homes is vital to tackling the housing crisis. This funding deal with NatWest will help us progress our ambition to deliver 25,000 new homes over the course of this decade. Each one will meet our Homes and Place Standard — creating better places to live and thriving communities for our customers.”

NatWest is one of the largest lenders to the social housing sector in the UK, and this new funding package contributes towards NatWest’s commitment to lend  £7.5 billion to the social housing sector  by the end of 2026. The number has been upgraded from £5 billion announced in March 2024 as levels of demand for housing increase.

Dean Holleyman, Relationship Director at NatWest, said: "SNG are committed to providing good, affordable homes that are the foundation thriving communities. They also aim to create thousands of new affordable homes every year.  This latest funding agreement with NatWest will support SNG as they move forward with these ambitious plans.”