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Lloyds Bank landlord plans even bigger than first anticipated

More details have emerged of Lloyds Bank’s plan to become a landlord - and the proposal is even more ambitious than first thought.

Lloyds - which in recent months has set out broad proposals to become a residential landlord - was thought to be going into the Build To Rent niche sector.

However, the Financial Times now says the bank has set itself a ‘strategic challenge’ of buying 10,000 existing properties by the end of 2025, then a total of 50,000 by 2030.


The figures have been revealed in an internal job advertisement within the banking group, and seen by the Financial Times.

In June it was revealed by the FT that the bank’s first acquisition would be a new-build block in Peterborough; the first tenants are expected to move in shortly.

This and all other units purchased by Lloyds will be managed by its own subsidiary called Citra Living, which was set up this year, according to filings at Companies House. 

This week’s internal advertisement giving details of the proposals stated that Citra would have a balance sheet worth £4 billion and generate £300m million pre-tax profit with 10,000 homes. 

It said Citra may consider mergers and acquisitions or strategic alliances to reach the targets.

Lloyds, which owns the UK's biggest mortgage lender - the Halifax - is keen to become a major player in the rental sector.

It is thought that becoming a landlord could allow Lloyds to sell other products to tenants, such as insurance or loans for deposits.

Lloyds owns the Scottish Widows and Bank of Scotland brands and has involvement with wealth management and insurance services.  

In its full-year results in February it said it was committed to broadening access to homeownership and exploring opportunities to increase support to the rental sector.

Here is the latest FT story - but for many readers it may be behind a paywall.

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  • George Dawes

    Well , that is a surprise .. not

    And where pray tell will the 50k properties come from by 2030 ?

    Nobodies building that many so it must come from existing stock ...


    Those 3 letters spell the end of the PRS in the UK , mark my words

    'you'll own nothing and they'll be happy'

    Theodor Cable

    Why will my house not be able to be rented becuse of EPC?

    Theodor Cable

    Now you know that is not true.

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    Come on now George lighten-up I am not long up don’t depress me before I go to work. Its no problem for them to acquire 10’000 or 50’000 properties, the Bank has our money for zero interest, we are their Guardian save them from going Bust and plenty of property available right now if you have the loot. I never accepted there’s any shortage by a glut of Properties and tens of thousands under construction. I never seen so many Tower Cranes in London or elsewhere look around you, look at the night Sky, can you count the Red Lights they seem to out number the stars. I can’t believe people are so taken in with whatever the Media says it becomes gospel, has brain cells been removed or conditioned, no offence.

  • Keith  Johnson

    I wonder if they are banking on cheap repossessions when furlough ends......After they reposed they could rent it back to them?....this reeks of unfair competition and conflict of interest

  • George Dawes

    Look up the great reset , it’s terrifying reading

    The government’s are all in cahoots with the agenda

    They’ll live in mansions and drive around in limos while you’ll live in a high rise you rent and go to work on a bicycle

    Communist China is their blueprint

    Theodor Cable

    I lve abroad, and have a house fully paid no motgages.
    Will I get that house taken from me as well as the Twickenham house?

  • George Dawes

    By 2035 all property including the one you live in must be epc c minimum to be habitable

    Including the one you live in … let that sink in ….

    Theodor Cable

    I reckon I will easily make the jump from D to C, as I will shortly be double/triple glazing all the current wood windows. Same for the Conservatory, and to insulate the loft which currently is not lagged.

    And this is all in a 4 bed, with 3 parking private spaces on the house ground, NOT in the road detached in Twickenham.

    Will cost me about £25,000 to do that little lot, and then the kitchen, and ensuite bathroom will be IKEA or WREN refurbishments on top. Say another £15,000.

    And that should resolve the C grading and will allow me to charge extra per month up to about £3,500pcm.

    Any thoughts?


    Theodor. The EPC is generated from a s/w app and there are different companies doing them. You can get two different levels according to which co you go with. I’ve had EPC’s done without them checking the loft!!!


    THE EPC C is a proposal not law yet.

  • icon

    Don’t worry it will get worse and many of us will be well gone before 2035, not too long ago we were in caves but we built it up for them and when we are gone they’ll be over weight and wrapped up keeping warm like hatching hens

  • George Dawes


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    This is the beginning of a master plan. unfortunately, the higher mind decided that ordinary buy-to-let landlords should not exist anymore. The plan is to make all small and medium size landlords to disappear and all the properties to be in the hands of a select few. property ownership will be a thing of the past in the future. We will all be renting from the banks and the ones above banks

    Theodor Cable

    Even if I have no one penny of loans from any bank?

  • George Dawes

    Ibrahim , you’re Unfortunately 100% correct

    They’ll move the goalposts on epc so property will become worthless as you won’t able to rent sell or live in it as it won’t reach their crazy net zero initiative

  • George Dawes

    While China continues to pump out 37% and rising of co2 emissions …

    Then again co2 is actually beneficial, but they don’t tell you about that bit

    Doesn’t fit the narrative…

  • icon

    Ok, so let's all remember Lloyds venture into the estate agency market a while back. Crashed and burnt, bailed out at a huge loss. Personally I welcome corporate competition subject to there being an element of a "level playing field". They'll be expensive, maintenance issues will be via a call centre, certainly none of the personal touch that I provide. I shall be watching with interest, but not worried at this stage.



    The highest rents are currently charged for cardboard clad student ghettos and this has allowed me to increase my rents to students by 30% in 2017 and by 400% over the last 15 years, so welcome Lloyds. Do the same for the general prs. My rents will rise but stay a bit under your rents and we,, will both be happy.

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    Well if Lloyds are as good at this as they at running a bank, we aint got anything to worry about!

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    So surely on this logic the Baroness, Shelter, GR Acorn NRLA etc should be campaigning ‘AGAINST’ Lloyd’s intentions of taking so much potential owner occupier properties into rental.
    Where are the demonstrations placards intimidation and threats? If they don’t do this then they are hypocrites of the highest order as they would be supporting a corporation not to the standard of Citizen Smith eh
    Also will Lloyd’s be adhering to AST rules like the rest of us. I don’t see why they wont be. If so they will be a powerful argument against these organisations this will benefit us

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    You will see other banks follow suit. You will then see the slow withdrawal of funding for the small buy to let landlord. Make no mistake, the aim over the next 25 years is for for big business to crush the small landlord and take over the PRS.
    Most of us are only landlords in the first place as we couldn't trust financial institutions with our pension monies. The irony is not lost on me.

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    Of Course the same rules won’t apply, the same rules don’t apply to all LL’s now do they. They’ll probably have a big Discount on Stamp Duty as well buying blocks of Flats with completions at same time. There are millions of Private LL’s out there can any of you tell me one thing the Government, the Councils or the Legal System has done to help us this last 20 years, ONE THING JUST ONE THING please and I take my hat off to you.


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