National Housing Bank issues rallying call to unlock £50bn private investment
Speaking at the launch event in London, Homes England made the case for partners to come on board and bolster the £16bn of public funding available for housing delivery, which chair Pat Ritchie described as a “generational step change” for the sector.
The National Housing Bank is designed to crowd in private capital at scale, with Homes England estimating it could unlock more than £50bn of investment over time.
Positioning the institution as a vehicle to unlock stalled schemes and scale up delivery, Homes England chief executive Amy Rees made a direct appeal to the market: “Our message today is straightforward – a rallying call… If you are an institutional investor, we’re open for business. Come and talk to us.”
She added: “If you are a registered provider, a developer, a housebuilder, we are here to help. Together, we now have the tools and firepower to face into the challenges that exist in the market.”
National Housing Bank chair and Homes England veteran Peter Vernon said the focus would be on leveraging funding that would not otherwise enter the market.
He said: “[The Bank has] up to £16bn of public money to invest in loans, guarantees, and equity. It is permanently capitalised, able to plan long term, and recycle its capital…
“We’re not here to substitute for investment that will happen anyway. We’re here to leverage investment that would not happen without us.
“Our message to current and potential partners is: come and talk to us.”
The bank will target viability gaps, including stalled sites, SME builder constraints, and the need for upfront infrastructure funding.
Chief executive of the National Housing Bank Simon Century said its immediate priority is to unblock schemes that are close to delivery but struggling financially: “We want to partner with organisations that have strong track records, clear capability and the ability to move at pace – speed of delivery really matters.
“One of the first partnerships we’ve announced is with Aviva – a £100m joint venture delivering high quality homes including in Liverpool and Manchester…
“The invitation is straightforward: if you have credible schemes and the ambition to move quickly, we want to work with you.”
Pat Ritchie, chair of Homes England said the bank will work in partnership with local authorities, housing associations and private investors, noting that collaboration would be key to delivery: “We want to work with you to shape how the bank works moving forward and to ensure we’re doing the right things to really galvanise the sector to deliver through both our broader investment plan and the bank…
“We are clear-eyed about the challenges: stalled sites, viability issues, limited access to finance and the use of land. We will work to overcome those challenges.
“We will work closely with Mayors, Local Authorities, developers, and housing associations to accelerate complex projects and support delivery at pace and scale.”
