Allia manages a Scottish Government programme to provide finance for the development of new affordable housing in Scotland. The programme will draw down over £50 million of investment by the Government over two years.
The Scottish Government’s programme was created in response to the demand from the housing association sector for better access to appropriate finance. It provides unsecured loan finance for up to 10 years with no payments of interest or principal before maturity.
The loan fund also runs in parallel with a new grant programme, using the interest generated by the loans to provide charitable donations for social housing development in Scotland. This is expected to provide about £15 million worth of additional homes for social rent, which the Scottish Government considers a priority in making Scotland a fairer country.
In the first year of the programme, loans were made to four housing associations: Kingdom in Fife, Eildon in the Borders, Orkney and Ayrshire. It is expected that this will allow for the creation of around 750 new affordable homes.
If you are a housing association in Scotland and would like to find out more about the programme, please contact Allia Impact Finance on email@example.com