Lender investment in RSLs remains high, signalling a vote of confidence in the sector, says Regulator


02 December 2021

Lender investment in registered social landlords (RSLs) remains high signalling a vote of confidence in the sector. This is the key message of a new report published today by the Scottish Housing Regulator.

The Regulator’s report is its analysis of RSLs annual loan portfolio returns. It states that lending and investment now exceeds £6.4 billion – up 3.8% from 2019/20.    

The report shows that 41 different RSLs took out 66 new loans in 2020/21, ranging from £137,000 to £60 million, and totalling more than £660 million across 17 different lenders. And 20% of all lending continues to come from the bond and capital markets.

The Regulator’s report states that the majority of new loans to RSLs have funded and will continue to fund the construction or acquisition of affordable homes. 78% of new loans were raised to fund affordable housing development.

A Scottish Government commitment to deliver 110,000 affordable homes by 2032 is in place and RSLs will have a major contribution to make towards meeting this target.

Shaun Keenan, Assistant Director of Regulation, said: “Our analysis shows that lending to and investment in RSLs remains high. This represents a considerable vote of confidence in the sector and effective regulation, which helps protect funds. This is good news for RSLs and their tenants and service users.

“It is important that lender and investor confidence is maintained in order to retain the availability of lending and favourable investment rates for the sector. This will be vital in supporting RSLs as they continue to work on their recovery plans, build and test their resilience and continue to work to deliver on wider Scottish Government priorities to deliver affordable, warm and safe homes for tenants and service users.”

Read the Regulator's report on RSL loan portfolio returns

Notes to editors


Tracy Davren Communications Manager