Join us each week where we'll be taking a look at the UK housing headlines making the rounds. Breaking down the key information and giving you our thoughts!
£1Bn initiative launched to retrofit UK social housing
The National Wealth Fund, Barclays Bank, and Lloyds Banking Group have announced a major funding initiative to support the retrofitting of social housing across the UK.
The package - £1Bn – is aiming to improve energy efficiency and reduce the carbon footprint of social homes. It includes £750m in financial guarantees from The National Wealth Fund, along with £500m in loans from both Barclays and Lloyds.
Social housing is already among the most energy-efficient housing types in the UK, but 39% of social homes still have an Energy Performance Certificate rating below C, demonstrating the need for additional investment.
In time, these measures are expected to create warmer homes, reduce energy bills for residents, and enhance overall living conditions.
Lumensol says: "It's great to see additional funding options and the GWF coming on stream for landlords to access and provide further routes to fund thermal improvements and energy efficiency among their stock. Here at Lumensol we are already supporting several clients with a range of funding options and decarbonisation solutions to benefit residents and achieve their 2030 commitments
Martin Baker - Director of Operations & Transformation Services
Government announces £68m funding boost to clear brownfield sites for housing
The government has announced that 54 local authorities will receive an additional funding boost to unlock disused brownfield sites for redevelopment.
The funds will be used primarily to cover the cost of decontamination, clearing disused buildings, or improving infrastructure like internet, water, and power.
The government claims that the land released as a result of this new funding will enable 5,200 new homes to be built across the country.
Prime Minister, Keir Starmer, said the funding would “see disused sites and industrial wastelands transformed into thousands of new homes in places that people want to live and work”
Lumensol says: "This additional funding boost is an exciting step in the delivery of new homes across the country and will ultimately help contribute to the 300,000 annual target. Equally, the repurposing of disused sites will play a pivotal role in transforming these areas into thriving communities"
Vicky Fordham-Lewis - Director of Operations