Peabody lifts Nationwide loan to £500m in lender's largest-ever corporate deal
What's the deal? Peabody TrustDealroom has a profile for this one. Try Dealroom → has increased its loan facility with NationwideDealroom has a profile for this one. Try Dealroom → by £100 million to £500 million, making the building society its largest lender. Nationwide called it its largest-ever corporate loan.
What's the endgame? The 110,000-home landlord will use the money to invest in existing homes, services and communities across London and the South East. In the year to March 2026, it spent £428 million maintaining residents' homes and £415 million on new ones.
Why now? Peabody completed 1,911 homes in the year, 78% of them for social rent or other affordable tenures. "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," said chief financial officer Phil Day.
By the numbers: The deal ranks in the 96th percentile by size among all debt rounds raised in the UK, based on a sample of 3,133 financings. Peabody reported group turnover of £1.09 billion and total assets of £13.8 billion for the year ended March 2026.
What's the context? The facility is the latest in a run of lender deals. It follows a £310 million Santander refinancing in December 2025, plus loans from the Co-operative Bank and CIC London in February 2026, as Peabody moves to diversify its financing.
The signal: Borrowing appetite across the sector is climbing, with English providers forecasting £54.7 billion in new facilities over five years. Lenders are showing a clear willingness to back major housing associations as they juggle repairs, upgrades and new development.
Read more: insidehousing.co.uk
Image credit: Generated with Gemini
