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.’
