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Lloyds backs SNG with £200 million funding

Lloyds
Published on: 19 February 2026
1 min read
  • New facility supports SNG’s broader plans to deliver 25,000 new social homes over the next decade and upgrade thousands of its existing homes.
  • Funding follows Lloyds’ £100 million National Wealth Fund-backed retrofit loan with SNG in August 2025.
  • Latest financing brings Lloyds’ total commitment to the UK’s social housing sector to more than £22 billion since 2018.

Lloyds has provided SNG (Sovereign Network Group), one of the UK’s leading housing associations, with a £200 million financing package to support its broader plans to develop new social homes and continue investment into its existing properties across the South of England, including London.

SNG currently has more than 85,000 homes across London and the South of England and the new revolving credit facility (RCF) will support its broader plans to deliver 25,000 new homes over the next decade. 

Lloyds has deepened its long standing support for SNG, as this latest funding follows a £100 million loan agreed in August 2025, partially guaranteed by the National Wealth Fund, to support the retrofit of thousands of homes to be warmer, more energy and cost efficient.

Formed in October 2023 through the merger of Sovereign Housing Association and Network Homes, SNG reinvests all surpluses to deliver thousands of new affordable homes each year and to improve the quality and sustainability of its existing properties. SNG plans significant investment over 10 years, guided by its Homes and Place Standard to ensure quality, sustainability and community impact across its portfolio.

We’re proud to deepen our support for SNG as it pushes forward with its ambition to deliver high quality, affordable homes. Building on last summer’s £100 million retrofit financing, this new RCF demonstrates how we’re mobilising capital at scale for social impact – accelerating the delivery of new homes, driving essential upgrades across the South of England, and strengthening our commitment to help tackle the UK’s housing crisis by increasing the supply of sustainable, cost effective homes where they’re needed most.

Jess Tomlinson Global Head of Real Estate & Housing at Lloyds Banking Group

This flexible £200 million facility from Lloyds gives us the headroom to keep building the affordable homes our communities need while upgrading the homes we already manage. It aligns with our Homes and Place Standard and supports our long-term investment strategy to deliver high quality, sustainable homes and thriving places.

Pete Benz SNG’s Chief Finance Officer

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