Lloyds is building all-electric rental homes in the UK
Key Points
- Lloyds Living has around 3,000 all-electric homes operational or contracted across the UK.
- A pilot of more than 100 zero-bills homes runs with Octopus Energy.
- The business held around 8,900 homes in operation or contracted at 30 June 2026.
- Stabilised occupancy sits at 95%, with rental growth tracking above 4% on an annualised basis.
- Lloyds has started scaling an in-house arm, Lloyds Living Property Management.
Lloyds Banking Group has around 3,000 all-electric homes operational or contracted across its UK rental portfolio, including a pilot of more than 100 zero-bills homes with Octopus Energy.
The figures come from the group’s half-year results for the six months to 30 June 2026, published on Thursday (30 July).
Lloyds Living, the group’s residential landlord business, held around 8,900 homes in operation or contracted at the end of June, split between a completed portfolio of around 6,300 homes and roughly 2,650 more under development.
Lloyds describes the all-electric stock as support for the UK’s net zero ambition, and runs the Octopus pilot alongside it.
Lloyds started five years ago and expects to have exchanged on more than 10,000 homes by the end of 2026. The group has set a target of more than 20,000 properties by 2030 under its new Accelerate 2030 strategy, which it launched alongside the results.
In-house management shift
Lloyds has begun scaling its own property management business, Lloyds Living Property Management, rather than relying on third-party managers.
The group frames the move as a way to improve cost-to-serve and reduce risk across the portfolio, and lists it as one of the division’s growth enablers through to 2030.
Alongside it, Lloyds Living operates a shared ownership brand, Pathways, which has around 350 homes operational or contracted and an ambition of roughly 5,000 homes by 2030.
The group said it is working with Corporate and Institutional Banking clients to scale that programme and connect it to shared ownership mortgages elsewhere in the bank.
Major new development planned
The MADE Partnership, a joint venture Lloyds holds through the same division, secured revised outline planning approval for Godley Green Garden Village for up to 2,150 homes, with the first stage of infrastructure scheduled to start in January 2027.
It also secured a revision to outline planning at Handforth Garden Village for up to 1,500 homes, with works targeted for 2027.
The Housing Growth Partnership agreed £20 million of follow-on equity support for partners across eight sites during the half and dedicated 115 days of senior adviser support to SMEs.
Lloyds added direct investment risk as a new principal risk for 2026, covering the possibility that its on-balance-sheet equity or real estate investments lose value or return less than the group expects.
Total costs across the division came to £104 million for the half, up 21% year on year, which Lloyds attributes to business growth and higher remediation costs.
