Ulster Bank’s £20m million social rent loan to Radius

ALG advised Ulster Bank on its £20m social rent loan to Radius, supporting the delivery of additional affordable housing across Northern Ireland.

Radius is the first housing association in Northern Ireland to complete a transaction with Ulster Bank under the NatWest’s social rent loan fund. Social rent homes are designed to provide affordable housing for people on lower incomes and are let to tenants at significantly lower than private market rates. Eligible housing associations that are existing customers of the bank can apply for the social rent loans which are incentivised with discounted interest margins plus no arrangement fee. 

The aim of providing discounted loans for building social rent homes not only supports their construction but also enables housing associations to allocate funds towards improving living conditions within the communities they serve.

The transaction demonstrates how innovative financing can help housing associations deliver much-needed affordable homes while generating lasting social value for local communities.

Louise Bailey commented: “We are delighted to have advised Ulster Bank on this important transaction. Financing of this kind plays a vital role in supporting the delivery of affordable homes and we’re proud to have helped bring the deal to a successful completion.”

Date published: 27 July 2026