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Lloyds Banking Group to embark on landlord venture with first property purchase

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  • 21/06/2021
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Lloyds Banking Group to embark on landlord venture with first property purchase
Lloyds Banking Group is set to step into the private rental sector with the purchase of a block of flats in Peterborough, reports suggest.

 

The Mail on Sunday revealed the lender is close to securing the properties, of which there are nearly 50, through a subsidiary called Citra Living. The bank is expected to rent the homes out through this company as soon as next month.

According to Companies House, Citra Living was established on 7 January and activities include other letting and operating of own or leased real estate.

Lloyds Banking Group hinted at plans to expand further into the housing market in its annual report for 2020. 

The report said in 2021, the bank would be “expanding the availability of affordable and quality homes” in the UK and exploring opportunities in the rental sector. 

In a statement to Mortgage Solutions, a spokesperson for Lloyds Banking Group, said: “As we stated in our full-year results in February, we are committed to broadening access to home ownership and exploring opportunities to increase our support to the UK rental sector.” 

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