Member Article

Merseyside Private Rented Sector set to benefit from £1bn Natwest commitment

Developers and housebuilders across Merseyside are set to benefit from a new £1bn initiative that is set to support the burgeoning purpose-built Private Rented Sector (PRS).

The £1bn capital commitment from Natwest is part of a sustained programme by the bank to support the construction of homes that have been specifically built for rental purposes, with particularly emphasis on Merseyside’s purpose-built PRS.

Describing ‘strong’ demand from local operators and developers on Merseyside for new PRS developments, the bank has appointed Heath Thomas as its Head of Real Estate Finance in the North West to help support the growing market for homes that are built for rent.

Corralling a team of 20 bank managers spread across Merseyside, Manchester and the North West, Heath will assist developers across all real estate types, but has identified the rental sector as a particularly important growth area.

Commenting on the sector, Heath Thomas, Head of Real Estate Finance North West at NatWest, said that construction of new, purpose-built PRS homes was an ‘important step’ in diversifying the UK’s housing supply.

He added: “We are already providing financing support to a number of leading developers and look forward to working with other sponsors across the country and in Merseyside.

“NatWest is fully committed to supporting the UK’s housing provision and the £1bn we are committing to PRS is in addition to the £2bn per annum we provide to support the development of homes for sale.”