Royal Bank of Scotland has earmarked up to £1bn to finance the development of build-to-rent homes around the UK.
It will be the first UK bank to classify private rented sector development with a separate strategy.
The development loans will have no upper limit, but will typically support schemes of at least 100 homes.
LTVs will be decided on a case-by-case basis, with repayments over three-to-five years. RBS is already an active lender to PRS developers and has financed schemes including Essential Living’s redevelopment of the Archway Tower, N19 (pictured).
