A £20 million facility from Ulster Bank will help Radius deliver additional social rent homes in Northern Ireland, under NatWest’s £1 billion UK-wide social rent loan programme.

Ulster Bank is expanding its support for the construction of hundreds of new social rent properties across Northern Ireland, agreeing a £20 million loan to Radius, the largest local provider of social housing, as part of its sector commitment.

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Social rent homes are intended to offer affordable accommodation for people on lower incomes, with rents set significantly below private market levels.

Eligible housing associations that are already customers of Ulster Bank can apply for these social rent loans, which feature discounted interest margins and no arrangement fee.

By providing discounted finance for building social rent homes, the initiative not only accelerates delivery but also allows housing associations to direct more resources into improving living conditions in the communities they serve.

Ulster Bank's parent, NatWest Group, has allocated a £1 billion social rent loan fund to increase the supply of social rent homes across the UK. Radius is the first housing association in Northern Ireland to complete a transaction with Ulster Bank under this fund.