Lloyds Banking Group plans to become major residential landlord

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The bank aims to acquire around 400 homes by the end of this year and then double this target in 2022 Lloyds Banking Group PLC aims to become one of the UK’s biggest landlords over the coming decade under its new Citra Living brand. The FTSE 100 lender has confirmed its plans to buy 10,000 properties by 2025 and expand this to 50,000 homes by 2030, operating them as a private landlord as it looks to broaden its revenue streams amid the low interest-rate environment.  Already the biggest mortgage lender in the UK with one in four home loans, the bank said its aim will be to acquire roughly 400 by the end of this year and then double this target in 2022. Lloyds put out an internal job advert setting a “strategic challenge” of reaching 10,000 properties by the end of 2025, the Finanical Times reported earlier, with a 50,000 target by 2030. A 50,000-home portfolio would be worth around £4bn and generate annual profits of around £300mln, based on calculations u
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