Since its inception in 1973, Eildon has been a staple in the Borders with more than 3,000 houses currently under its remit. As a part of the association’s new build programme, it hopes to bring 800 new homes in the area.

Last year, Royal Bank of Scotland - as a part of the NatWest group - declared a £5 billion lending ambition to the social housing sector by the end of 2026, with this latest deal contributing towards addressing the urgent need for access to housing throughout the country.

This funding to Eildon Housing Association will support both the development of new houses and growth of the many care services and sustainability strategies the registered charity offers. This includes high quality, residential based older person’s housing and care services as well as support for adults with learning disabilities.

Through large-scale investment improving energy efficiency within homes, waste reduction and supporting sustainable travel, Eildon Housing Association is working to transition to net zero by creating environmentally low-impact housing and communities for future generations.

Lynn Mirley, director of business support at Eildon Housing Association, said: “Our goal is to always provide the highest quality, affordable and sustainable properties and care possible especially amidst this housing crisis we are seeing in the Scottish Borders and beyond.

“Securing this deal with Royal Bank of Scotland allows us to help alleviate some of the pressures the current economic climate is placing upon local communities. It is important to us to have this sort of backing as it demonstrates the confidence in Eildon Housing Association’s ability to continue to make a real difference in people’s lives.

“In implementing our care and sustainability strategies in the upcoming period, we hope to tackle the challenges our residents face in an ambitious and progressive way.”

Commenting on the Eildon Housing Association project, Martin McCourt, real estate finance relationship director at Royal Bank of Scotland, added: “At Royal Bank of Scotland we recognise the importance of supporting organisations that make proactive change within our society.

“We have committed to supporting the housing industry in alleviating the current strain faced by local authorities and residents caused by the housing crisis. We look forward to seeing the fulfilment of Eildon Housing Association’s strategy as they continue to tackle these challenges.”

As of August 2024, NatWest Group had already achieved £2.8bn worth of lending to the sector across the UK. The biggest bank for UK business, some key lending projects to the housing sector in Scotland includes a £96m loan to Grampian Housing Association (GHA) to finance the development of 1,000 new sustainable homes.