Scottish Charitable Bonds

Allia’s Investing in Scotland programme provides loans and grants to housing associations in Scotland for building new affordable homes.

Since 2014, Allia has been supporting the development of affordable housing across Scotland with nearly £70m of investment from the Scottish Government. The Scottish charitable bonds programme was created in response to demand from housing associations for better access to appropriate finance.  It provides unsecured loans for up to 10 years with no payments of interest or capital before maturity.



To date, Scottish Government has invested almost £70m in Allia’s Scottish charitable bonds.  This has resulted in 14 loans for 10 housing associations around the country, including Kingdom Housing Association in Fife and Hjaltland Housing Association in Shetland. Together these loans are expected to provide over 900 new affordable homes across Scotland.

In addition, the interest on these loans has enabled the Scottish Government to create a grant fund.  This is used to purely donate funds to further support housing development. So far almost £20m has been donated to support the delivery of homes for those on the lowest incomes.

A short summary of some of the housing associations we’ve helped can be found here.

Find out how we can help you

If you are a housing association in Scotland and would like to find out more about Scottish charitable bonds, please contact Allia Impact Finance on


T: 0845 456 2431