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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS