William Eichler 03 March 2025

Wealth fund backs social housing retrofit loans

Wealth fund backs social housing retrofit loans image
Image: Tupungato / Shutterstock.com.

The Government's National Wealth Fund (NWF) has announced plans to guarantee £250m of loans to housing associations to support the retrofitting of social housing.

The fund announced on Friday an initial £150m financial guarantee to support The Housing Finance Corporation (THFC) to make long-term, unsecured loans to help retrofit social housing.

As a result of the guarantee, Rothesay, the UK’s largest specialist pensions insurer, has committed to provide THFC with £150m investment.

THFC and the NWF hope to grow the scheme to £250m over the next six months depending on take-up.

Chancellor of the Exchequer, Rachel Reeves, commented: ‘This new partnership will unlock £150m in private investment and create further jobs, building on the 6,500 jobs already expected in the retrofit sector across the UK, so more people can get sustainable, high-quality, energy efficient social housing.’

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