Large landlord agrees £65m extra borrowing to boost repairs and retrofit

The group said it is planning to spend around £124m on existing stock in its current financial year. 

Amplius – which operates across the Midlands, the East and the South East of England – was formed in late 2024 through the merger of Longhurst and Grand Union.

As part of its fundraising this year, the group is looking to borrow £200m through the government-backed Affordable Homes Guarantee Scheme. Amplius previously secured an £80m funding deal with Santander in March last year. 

For Lloyds, it is the seventh loan the bank has arranged through the NWF since its launch last summer.

Wheatley, Sanctuary, Orbit, Vivid, Sovereign Network Group and Peabody are among those that have previously secured loans from Lloyds through the Treasury-backed scheme. 

Around £400m of the bank’s £500m lending commitment through the NWF has now been allocated.

The NWF, formerly known as the UK Infrastructure Bank, has committed guarantees totalling £1.3bn to the sector through four lenders: Barclays, Lloyds, THFC and NatWest.

Stuart Nivison, head of portfolio management at the NWF, said the Amplius loan was “a great example of how we’re helping to unlock long-term investment into the retrofit sector”. 

A year ago, a senior banker told Social Housing that housing associations should take advantage of the retrofit funding as it “won’t last forever”.