Peabody has increased its loan facility with Nationwide by £100m to £500m, making the building society its largest lender.
The facility is Nationwide’s largest-ever corporate loan. It will support Peabody’s investment in residents’ homes and its wider work providing services and support in local communities.
In the year to the end of March 2026, the not-for-profit housing association spent £428m on looking after residents’ homes and a further £415m on new homes in London and the South East.
Phil Day, chief financial officer at Peabody, said: “Housing associations are facing significant financial pressures as we balance the need to invest in existing homes, improve services and deliver much-needed new affordable housing.
“Extending this loan agreement reflects the strong relationship we’ve built with Nationwide over many years. It will help strengthen our financial resilience and support our long-term commitment to investing in the quality, safety and sustainability of residents’ homes. It gives us greater flexibility to respond to future needs while keeping our focus firmly on delivering better homes and services for residents.”
Steve Goodyer, senior relationship manager at Nationwide, said: “We are delighted to build on our long-standing relationship with Peabody through this landmark £500m facility. As Nationwide’s largest ever corporate loan, the transaction demonstrates both the strength of our partnership and our continued commitment to supporting the social housing sector.
“The additional funding will provide Peabody with greater financial flexibility to continue investing in the quality, safety and sustainability of residents’ homes, while supporting its wider ambitions for communities across London and the South East. We are proud to play our part in helping Peabody deliver that long-term investment.”
Image credit: Andrzej Rostek/Shutterstock
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