Jurisdiction(s):
United Kingdom

Build to rent finance: phases, structures, facility terms, security, covenants, and planning, regulatory and legislative issues

Published by a LexisNexis Banking & Finance expert

Practice notes

Over the past twenty years, build to rent offerings have expanded across the UK, most visibly in large metropolitan centres such as London. Professionally operated and held by institutional investors, its rise reflects comparable developments in countries including Germany and the USA. It is now regarded as a separate asset class within the private rented sector and is defined in the National Planning Policy Framework glossary, simplifying its consideration within the planning system. This Practice Note sets out:

the nature of build to rent transactions and how they diverge from conventional residential development finance
the typical financing structures used for build to rent
the principal points to address when documenting build to rent transactions
the applicable regulatory and planning matters
the key legislation influencing the sector

What is build to rent?

‘Build to rent’ describes schemes where homes are delivered specifically for the long-term rental market. In real estate finance terms, it commonly combines development finance during the construction phase with investment finance once the asset is stabilised and producing investible rental income...

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Web page updated on 21/05/2026

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