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BSF: 20 banks now providing finance

Partnerships for Schools has revealed that 20 banks are now providing finance for Building Schools for the Future projects.

The announcement marks a remarkable turnaround for the scheme, which hit a major obstacle when all banks refused to lend as recently as Christmas.

Six deals have closed this year through the £55 billion BSF scheme, which aims to rebuild or refurbish every state secondary school in England by 2023.

PfS chief executive Tim Byles said: “Before the turn of the year, no banks were lending into BSF; today there are 20 financial institutions willing to lend.

“This level of interest means that deals are continuing to close, feeding through to jobs on the ground in the construction sector, and – critically - schools opening the length and breadth of the country.”

The 20 financial institutions now in the market to lend to BSF schemes are:

Nationwide
SMBC
Barclays
National Australia Bank
European Investment Bank
Aviva
Co-op
Helaba Landesbank
Lloyds
Norddeutsche Landesbank
RBS
Santander
NIB Bank
Westdeutsche Landesbank
Deutsche Postbank
LBBW
KfW
Dexia
BBVA
Natixis