Personal Finance. Money. Investing.

Lloyds Bank Aims To Become One Of UK’s Largest Landlords With Plans To Buy 50,000 Homes

Lloyds Banking Group is aiming to become one of the UK’s largest landlords, with plans to buy 50,000 homes by 2030. This is according to details in an internal job advert, first reported on by the Financial Times.

Posted: 20th August 2021 by
Finance Monthly
Share this article

In conjunction with his target, Lloyds has recently launched its Citra Living brand as the banking group moves into the private home rental market and diversifies its offering away from traditional lending amid low interest rates. Although Lloyds has recently signed a strategic partnership with Barratt Developments, one of the largest residential property developers in the UK, the banking group plans to push into the property market with a gradual, staged approach.

The Financial Times said that the banking group’s internal job advert showed Citra Living has set a “strategic challenge” of purchasing 10,000 properties by 2025, with the balance sheet worth approximately £4 billion. By 2030, the group hopes to own 50,000 properties.

Lloyds began to work towards its 2025 target in July of this year, purchasing 45 flats at the Fletton Quays development in Peterborough, Cambridge. The group said it aims to acquire an additional 400 properties by the end of the year, aiming for a target of 800 by 2022. 

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram