Lloyds Bank are planning to buy, rent out and manage residential properties. They have set up a new Company to manage their private rental portfolios namely Citra Living Limited. Click here to see full details of their company CITRA LIVING LIMITED
It is said they are looking to make their first purchase in Peterborough. And they are looking to build a large portfolio and sell products to their Tenants. But how large? And for what real objective? What about the reputational risk they may face as Landlords?
How much money could such a portfolio really make for a business that operates in billions?
Lloyds themselves have 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.”
How does home ownership fit into a rental portfolio?
There are so many questions here. No doubt in time there will also be answers.
Those answers will be of enormous interest and we want to try and find out what they are.
But what is also fascinating is how other Institutions in the market will respond to this move. It is difficult not to believe that other Institutions will not see this as a powerful reason to consider how they could enter into this market.
And therein lies possible opportunities for this market to deliver rental properties in a completely new framework.
Watch this website for more news about those changes!
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