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The need for affordable housing

NatWest Group’s funding to Scottish Borders Housing Association (SBHA) has supported the construction of new affordable housing across the Scottish Borders, helping address affordable housing shortages in the region.

The association was formed in 2003 following a large-scale voluntary transfer of housing stock from Scottish Borders Council. Today, it is the largest registered social landlord in the Scottish Borders and owns approximately 5,600 homes largely concentrated in Hawick, Galashiels, Peebles, Kelso and Jedburgh. ​

The pressing need for affordable housing in the region was underscored when, in late 2023, SBHA completed 12 new homes in Kelso, which when advertised for rent attracted 445 bids from prospective tenants. ​

The £58 million funding facility has underpinned SBHA’s expansion plans to develop 300 affordable homes in the south of Scotland by 2028. This included the addition of 35 new units between April 2022 and April 2023, with a further 50 units set to be completed by the end of 2024. ​

NatWest Group funding has underpinned SBHA’s expansion plans to develop 300 affordable homes in the south of Scotland by 2028.

Supporting economic recovery

According to the association’s own data, over 90% of SBHA homes met the Scottish Government’s Energy Efficiency Standard for Social Housing in April 2023, compared to a Scottish average of 79%. ​

Financing continues to support investment in current tenants’ properties by delivering energy efficiency improvements. As part of its continuing investment in the energy efficiency of its properties, SBHA is in the process of improving the EPC energy efficiency rating of properties, with a focus on any remaining homes below a band D, to help address fuel poverty in the least energy efficient properties by December 2025.​

“The flexibility of our deal terms opens new doors for our business as we look to enhance our current offering for the future and contribute to the economic recovery of the Scottish Borders with more much-needed affordable homes,” commented Julia Mulloy, SBHA Chief Executive.

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