Construction News

18/01/2016

RBS Pledge £1bn Towards Building New Homes

The Royal Bank of Scotland (RBS) has announced £1 billion of funding towards building new homes across the UK.

The investment into the purpose-built Private Rented Sector (PRS) is backed by the government as it aims to develop one million new homes by 2020.

RBS said it has seen an 'increased demand' from developers and operators looking to build and manage purpose-built rental schemes in the UK.

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Phil Hooper, RBS Head of Residential Development, said: "Building new homes, purpose built for rent, is an important step in increasing and diversifying the UK's housing supply. We are already providing financing support to a number of leading developers and look forward to working with other sponsors across the country.

"RBS is fully committed to supporting the UK's housing provision and the £1bn we are committing to PRS is in addition to the £2bn per annum we provide to support the development of homes for sale."

(LM/CD)

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