The Scottish Housing Regulator has today published a new report highlighting a marked rise in borrowing activity across social housing in Scotland. The report is the Regulator’s annual analysis of Registered Social Landlords’ (RSLs’) loan portfolio returns for the period April 2024 to March 2025.
During 2024/25, both the number of RSLs securing new finance and the overall value of funding arranged increased significantly, compared to the previous year. For the first time, total debt facilities available to Scotland’s RSLs exceeded £7 billion—underscoring growing financial confidence and investment in affordable housing.
RSLs raised £563 million in new funding during 2024/25 through banks and capital markets, with the vast majority being used to support building new houses. Looking ahead, RSLs plan to increase borrowing by a further £1.3 billion over the next five years to support future development programmes and continued investment in existing homes. The Regulator’s latest report also highlights RSLs’ ability to attract new investors.
Shaun Keenan, Assistant Director of Financial Regulation, said:
“Scotland’s RSLs have, in general, maintained sufficient liquidity to navigate a challenging operating environment shaped by a national housing emergency, inflationary pressures, and evolving demands on their resources. Our latest report underscores the continued financial resilience of RSLs, which enables ongoing investment in both new and existing homes.
“Two new lenders—Social and Sustainable Capital and Pricoa Private Capital—began lending to RSLs in 2024/25, alongside increased commitments from existing funders. This continued investment reflects strong confidence in RSLs and our regulatory framework.”
Notes to editors
- The Scottish Housing Regulator (SHR) was established on 1 April 2011 under the Housing (Scotland) Act 2010. Its objective is to safeguard and promote the interests of tenants and others who use local authority and RSL housing services. The Regulator operates independently of Scottish Ministers and is accountable directly to the Scottish Parliament. It assumed its full regulatory responsibilities on 1 April 2012. The Regulator consists of the Chair and seven board members. More information about the Regulator can be found on its website at housingregulator.gov.scot
- SHR sets out how it currently regulates social landlords in its published framework – Regulation of Social Housing in Scotland.