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£43m in charitable bonds made available for social landlords in Scotland
The Scottish government has announced £43m in funding for new housing under its Charitable Bonds scheme.
The Scottish government has announced £43m in funding for new housing under its Charitable Bonds scheme #UKhousingThe programme provides loans to registered social landlords, with the interest on repayments being reinvested in affordable housing.
Màiri McAllan, the cabinet secretary for housing, said: “The Charitable Bonds programme shows our determination to make best use of different streams of finance to deliver more warm, safe and affordable homes for hundreds of families.
“This sits alongside our commitment to deliver up to £4.9bn of investment over the coming four years, with homes delivered through a mixture of public and private investment.
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“This will support the delivery of 36,000 affordable homes and is estimated to provide a place to live for up to 24,000 children.
“As we develop plans for our new housing agency, More Homes Scotland, it is my intention that it will deliver innovative finance models like this one to deliver more housing across the country.”
Lesley Janes, finance director at the Kingdom Group housing association, said: “The Charitable Bonds programme is a proven model that works, delivering thousands of affordable homes across Scotland, and this additional investment keeps that momentum going.
“For Kingdom, access to this kind of funding is central to our ambitious development programme and our commitment to help tackle the housing emergency. We’re proud to be part of a partnership that puts more warm, safe, affordable homes within reach of the people and communities that need them most.”
Since 2014, the programme has supported the delivery of around 4,500 properties and generated a further £175.6m towards the completion of more affordable homes.
The additional funding takes the total investment for 2025-26 to £78m. Bonds have been issued to Kingdom, Eildon, Cairn, Govanhill, Lochalsh & Skye, Lochaber and Wheatley housing associations.
Peter Freer, a director of financial services firm Allia C&C and head of its Scottish office, said: “Allia C&C has been delivering the bond programme for over 10 years and is enormously proud of what it has achieved in that time.
“As the need for good-quality affordable housing remains as pressing as ever, we very much hope the programme continues to go from strength to strength.”
In an effort to maximise opportunities for affordable housing delivery, the Scottish government intends to open up the scheme in the future to enable a wider range of affordable housing providers to access this funding.
The procurement process for administering the scheme will start later this year.
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