Lloyds Bank is rolling out a social housing "pilot scheme" next month.

The banking giant confirmed that it will start converting its disused office sites into social housing from next month.

The bank is launching the programme with a decommissioned data and office space in West Yorkshire.

Lloyds will sell the site to a local housing group with the agreement that 80 new homes will then be rented at about half the usual rate.

Charlie Nunn, Chief Executive Officer, Lloyds Banking Group, told The Guardian: “Everyone has the right to build a future from the foundation of a secure home.

"Social housing is part of this country’s critical infrastructure, and we need to direct and increase investment into the right homes, in the places they’re needed most.

"Lloyds Banking Group has provided £17 billion of support to the sector since 2018 and today we also have announced our plans to redevelop decommissioned Group data centres and former office sites for new housing projects - and I would encourage others to also consider this.

“We’re also making a major financing commitment to housing providers, and through Citra Living we will own good-quality homes to be made available for those most in need.

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"In partnership across the private, public and third sectors, we can create more good-quality, genuinely-affordable homes.

“Labour’s commitment to it is clearer than the last government,” Nunn told the Guardian.

“We obviously didn’t see, in the last period of time, some of the changes that would be needed to really unlock the level of the ambition that we think is needed for the UK to prosper going forward.”