Local authority lending

We currently offer the lowest cost finance for local authorities delivering economic infrastructure projects in the UK

Our lending offer

  • We have £4 billion to lend to local authorities for eligible infrastructure projects

  • We offer up to 50-year loans currently at gilts + 40bps (40bps lower than PWLB in most cases) with a minimum loan size of £5 million.

Our focus

  • We can finance local authority-led economic infrastructure projects across the breath of our mandate, including the Bank’s five priority sectors: clean energy, transport, waste, water and digital.
  • We are building our local authority portfolio in areas where authorities have demonstrated demand and the potential for impact and shared learning is greatest. These include: retrofit, heat networks and transport.
  • We are also building capabilities to support place-based infrastructure projects, an area we are seeing considerable activity among local authorities.

Why speak to us?

Flexibility: borrowers can stagger drawdowns over an agreed availability period, forward fix interest rates, and phase interest and principal repayments to reflect the project’s cashflow profile.


Validation: our project review process provides an independent view of a project’s commercial viability, leveraging local authorities’ in-house business case process to minimise the burden on the borrower.


Efficiency: we currently offer local authorities the lowest cost finance for infrastructure projects with no arrangement or commitment fees payable by the borrower.

Our team

If you are a local authority and would like to understand if your infrastructure project is in our mandate and how we may be able to help you, please contact a member of our senior team:

Lorna Pimlott – Managing Director
Iain Watson – Director for Lending
Dan Mansfield – Director for Transport
Raphael Miller – Director for Mixed Infrastructure
Stuart Leslie – Director for Retrofit
Peter Chalmers – Director for Heat Networks

If your infrastructure project is still in the development phase, our local authority advisory team may be able to support you. Learn more about our local authority advisory services