Hundreds of new 'affordable' homes across four Scottish areas to be built with £50m funding
A housing association has secured funding for the construction of 500 affordable homes across four areas of Scotland.
Kingdom Group said it would be using the £50 million to support its ongoing commitment to building properties across Fife, Perth & Kinross, Clackmannanshire and Falkirk. The funding has been provided by both Royal Bank of Scotland and Bank of Scotland and, in conjunction with government grants, will allow the group to “play its part in tackling the housing emergency in Scotland”.
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Hide AdKingdom said renegotiating its existing lending arrangements with the banks had also given it greater financial flexibility to invest in its existing housing stock. The planned maintenance programme means that residents in older properties will, over time, benefit from lower energy bills and have “warmer, more secure homes”, the group added.


Kingdom Group is one of Scotland’s largest affordable housing and social care organisations and is active across four local authority areas.
Leigh Grubb, group director of corporate services, said: “The private funding market remains incredibly supportive of Kingdom and appreciates the vital role affordable housing plays in society. We received several competitive offers from funders and decided to split the award equally between two of our existing lenders, with whom we continue to have strong relationships and who have consistently supported the sector in Scotland.
“During the current housing emergency, our desire to keep developing new homes remains strong, even though there has been some slowdown in our programme due to government funding restrictions. This funding allows us to focus on what matters most, providing high-quality, affordable housing for our customers across the Central Belt.”
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Hide AdBruce Davidson, relationship director at Royal Bank of Scotland, said: “At Royal Bank of Scotland we understand the importance in addressing the supply of homes across the country which are fit for the future.”
Melanie Russell, relationship director for social housing, Bank of Scotland, added: “This funding lays the groundwork for the sustainable growth of their business and more financially resilient communities. With our shared commitment to creating modern, accessible housing, we believe we can make a real difference and continue to ‘Help Britain Prosper’”.
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