Housing Outlook Q3 2026
Resolution Foundation
UK public financial bodies
National Housing Bank
Indirectly wholly ownedNational · England
Opened in April 2026 following a March launch announcement, the Homes England subsidiary finances housing and mixed-use regeneration through loans, equity partnerships and guarantees.
- UK ownership or participation
- 100% owned by Homes England (Homes and Communities Agency)
- Lead department or body
- Ministry of Housing, Communities and Local Government
- UK voting rights
- Sole shareholder: Homes England
- Mandate
- Housing and regeneration finance
UK financial position
A verified value for the UK government’s financial position has not yet been recorded. Institution-level figures are shown separately below.
Accounting values, paid-in capital and funding commitments have different meanings and reporting dates. These figures are not added together.
Institution finances and activity
These describe the institution or the assets it administers. They are separate from the UK government’s holding.
Announced financial capacityUp to £16bnLaunch announcement, 31 March 2026
Debt, equity and guarantees over the next decade. Not a verified paid-in equity balance.
Underlying source ↗Ownership and accountability
Homes England is the direct shareholder and is sponsored by MHCLG. NHB has its own board and operates independently on pricing, investment decisions and deployment within the agreed framework.
Parent / group: Homes England
Research hub
5 publications relevant to NHB · Institution-specific research shown first
Report on the proposed subsidy for capitalisation of the National Housing Bank by Homes England
Competition and Markets Authority / Subsidy Advice Unit
Much ado about PuFins: How the UK’s public financial institutions can unlock billions for investment
Resolution Foundation
News and announcements
View in News and announcements →- NHB updates its board register of interests ↗
The published register identifies board members and the shareholder-appointed UKGI director.
- Housing Outlook Q3 2026 ↗
Examines combinations of grants, developer contributions and National Housing Bank loans for increasing affordable housing supply. It estimates the possible contribution of NHB’s low-interest facility under different tenure choices, rather than reporting completed housing outcomes.
View in Research hub → - Much ado about PuFins: How the UK’s public financial institutions can unlock billions for investment ↗
Maps the expansion of UK public financial institutions and examines investment options under the fiscal rules. The authors recommend additional National Wealth Fund capital and question the case for institutions issuing their own bonds.
View in Research hub → - Homes England announces National Housing Bank launch ↗
The bank opens on 1 April with up to £16bn of debt, equity and guarantee capacity. Homes England also announces a £100m partnership with Aviva.
- Report on the proposed subsidy for capitalisation of the National Housing Bank by Homes England ↗
Evaluates Homes England’s assessment of the proposed subsidy used to capitalise the National Housing Bank. It provides advice on the assessment against subsidy-control requirements before implementation, rather than measuring the Bank’s subsequent performance.
View in Research hub →