New funding from the Royal Bank of Scotland has been allocated to support the construction of around 170 new energy-efficient homes in Fife and Perth & Kinross. This is part of Kingdom Housing Association’s (KHA) aim to tackle Scotland’s housing emergency through providing safe, warm homes at affordable rents. The funding injection also forms a key part of the bank’s commitment to invest £7.5bn into the UK affordable housing sector between 2024 and 2026.
KHA, as one of Scotland’s largest registered social landlords, is undergoing an ambitious developmental project across East Central Scotland. The £20 million investment will help deliver affordable homes. All homes will achieve a minimum EPC B rating, using a fabric-first approach to choose energy efficient building materials.
Lesley Janes, Finance Director at Kingdom Group, said: “Partnerships like this make our work possible. This £20 million allows us to continue building affordable homes where they’re needed most and to keep supporting the people and communities we serve. Having the backing of Royal Bank of Scotland and expert support from their colleagues mean we can plan with confidence, invest in sustainable building practices and deliver real impact.”
Founded in 1979 and headquartered in Fife, KHA manages over 7,000 homes and provides a wide range of housing, care and support services. Over the next five years, KHA aims to deliver 2,500 new homes – increasing the number of affordable homes it provides by almost a third.
The new facility is part of KHA’s long-standing relationship with the Royal Bank of Scotland, now totaling £61 million in lending. Alongside constructing new homes, Kingdom Group – a part of KHA – is working to strengthen communities by providing mid-market rental properties, managing student accommodation through joint ventures and delivering care and outreach services to individuals affected by homelessness.
Bruce Davidson, Relationship Director at Royal Bank of Scotland, added: “The housing crisis is one of the biggest challenges facing our country and Royal Bank of Scotland is committed to helping tackle this issue through significant investment in the sector to help more people into safe and stable homes. We are proud to continue our support to allow Kingdom Housing Association to build and maintain affordable and energy efficient homes across Fife and Perth & Kinross.”
Affordable housing and sustainability share a surprising amount of qualities. Proper insulation for example helps keep energy bills low, especially during winter months, whilst also reducing overall energy consumption. This intersection cannot be ignored. Sustainable housing is affordable housing, and is precisely what the next generation of housing needs.
