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Major bank backs Inside Housing’s Build Social campaign
Lloyds Banking Group has backed Inside Housing’s Build Social campaign, which is calling on the next government to commit to building tens of thousands of social rent homes a year.
David Cleary, managing director and head of housing at Lloyds Banking Group, told Inside Housing: “We’re delighted to be the first financial services firm to back the campaign.
“We strongly believe that affordable, sustainable and high-quality housing is the foundation of a healthy society and prosperous economy. And ultimately… everyone deserves a safe place to call home.”
The bank has long provided funding to the social housing sector and is halfway through a two-year partnership with homelessness charity Crisis. The partnership has called for one million “genuinely affordable” homes to be built by 2033.
Lloyds is also aiming to raise £2m to help Crisis launch a non-profit lettings agency for people on low incomes, and expand the Changing Lives grants programme for Crisis members.
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The bank is also working alongside the National Housing Federation and Home Builders Federation in campaigning for more homes. “We’re determined to make sure that all the parties have it on their political agenda and high up their manifestos,” Mr Cleary said.
“There’s a significant shortage of homes being built, and this shortfall is nothing new,” he added.
“What we’re facing into going into the election is the cumulative effect of a persistent shortfall.
"So it appears like a big number now, and it appears like a big investment and a big ask, but of course it’s actually correcting years of under delivery against the targets.”
Considering that there are “the equivalent of 4,500 classrooms of schoolchildren who are living in temporary accommodation, there has to be a call for change”, Mr Cleary explained. “There are definitely clear social and economic benefits to eliminating homelessness.”
Lloyds offers funding across the sector for new build developments, from social rent to private rental and market sale. Its clients include 340 housing associations in England, Scotland and Wales.
Since 2018, Mr Cleary said the bank has provided £17bn in funding to the social housing sector. It also helps to develop homes through the Housing Growth Partnership, which puts equity into small and medium-sized builders.
On the bank’s work with Crisis, he said: “We’ve run events for MPs at Westminster to make them aware of the issues and some of the solutions.”
Matt Downie, chief executive of Crisis, is a regular speaker at Lloyds’ events “where we’ve got clients from across the whole multitude of the sectors that we work with”, Mr Cleary said.
“That’s why we want to support the Build Social campaign,” he added. “The more people that are respected in their relevant sectors with a loud voice and a loud reach, the more people talk about it, the more action can be taken.”
Aims of the Build Social campaign
For all political parties to commit to funding a substantial programme of homes for social rent in their manifestos at the next general election. This includes:
● 90,000 social rented homes a year over the next decade in England
● 7,700 social rented homes a year in Scotland
● 4,000 social rented homes a year in Wales
Inside Housing has committed to doing work that amplifies the voices of people who need social housing, including families living in temporary housing and overcrowded conditions.
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