National Housing Bank — Partnerships with private sector lenders and commercial banks

We make equity investments to accelerate housing delivery and support regeneration across England.  

We partner with private developers and investors, participate in joint ventures, and make cornerstone investments into funds. Through these investments we aim to deliver a financial return to government, while attracting significant additional investment from private capital.  

Deploying equity through partnerships and funds builds market confidence, attracts new investors and stimulates development where it’s needed most. 

Investment principles 

We invest in regional and national strategies across England that support the transformation of places and unlock housing and mixed-use schemes. 

How we invest

When investing we:

• put cornerstone and early-stage investments into funds and collective investment schemes
• take minority stakes in private joint ventures and partnerships with developers, investment managers and other partners

How we work

Through our work we aim to:

• be tenure-agnostic, with a focus on the delivery of new housing or unlocked housing capacity, including early enabling phases of projects
• prioritise investment in platforms delivering homes at median affordability or regulated social/affordable housing
• typically invest at platform or vehicle level, rather than single sites, unless delivery is at a significant scale
• typically invest at least £50 million into vehicles expecting to deliver more than 3,000 homes
• may consider other interventions based on alignment with our strategic objectives  
• seek to have a minority interest and be less than 50% of the total equity in the vehicle  
• primarily invest on the same terms as other capital partners, though we may take different positions where appropriate

We encourage market diversification by supporting a range of tenures, addressing market failures and attracting new capital and partners. 

We invest in projects that foster innovation, social impact and contribute to a dynamic, high-quality, and sustainable built environment. 

How to apply 

Enquire about funding and support from the National Housing Bank.