Scotland’s drive to tackle its housing emergency has received a boost through a £5 million loan arranged by Allia C&C for Kingdom Housing Association through its Charitable Bond programme in partnership with the Scottish Government. This funding will support Kingdom with its ongoing and significant development programme.
Allia C&C’s Charitable Bond programme provides simple, unsecured loans to housing associations for up to 15 years. Uniquely, the interest paid on these loans directly funds a grant programme to support the creation of homes for social rent across the country. Since its inception in 2014, the Scottish Government has invested more than £500 million in Charitable Bonds through the Allia Group.
As part of this ongoing success, Kingdom Housing Association has been a key beneficiary of the Charitable Bond programme, receiving multiple loans to support its vital housing initiatives. This latest collaboration will provide Kingdom with funding to construct new affordable homes in Fife — a crucial step in addressing Scotland’s Housing Emergency.
Lesley Janes, Kingdom Group Finance Director, said, “We know the difference that high-quality, affordable housing makes for our customers and communities. The charitable bond loan funding from Allia C&C is an important part of financing our development programme and supports our ambition to do more. This partnership helps us deliver much-needed new homes and play our part in responding to the housing emergency.”
To date, the Charitable Bond scheme has supported the delivery of more than 4,000 new homes through direct loans to Scottish housing associations. This has successfully generated an additional £146 million to further bolster the creation of around 1,300 social rented homes.
Peter Freer, Director and Head of Allia C&C’s Scottish office said “We are delighted to continue our strong partnership with Kingdom Housing Association; their dedication to delivering quality affordable housing aligns perfectly with our mission to create positive social impact. The Charitable Bond programme has proven to be a highly effective tool for financing social housing while generating essential grant funding for the Scottish Government’s affordable housing initiatives.”
