Lloyds Bank, better known for its high street presence, has rapidly transformed into one of the UK’s largest landlords, with its residential property assets now valued at £2 billion.

Since launching its Lloyds Living division (formerly Citra Living) in 2021, the bank has acquired and now manages 7,500 rental homes across the country. This push aligns with their ambitious 2030 goal to acquire 50,000 rental properties, positioning them among the top private sector landlords alongside major players like Legal & General and Grainger.

• Focus: The properties are a mix of apartments and houses, often in suburban areas.
• Strategy: Most acquisitions involve funding development partners to build new housing, including recent deals with housebuilder Barratt Redrow.
• Affordability Push: Lloyds has also entered the social housing market, converting former office buildings into homes set to rent at half the market rate.

A bank spokesperson stated the business is succeeding in increasing access to quality, affordable housing while creating diversified income streams for the group.