Additional finance to be allocated to affordable housing Charitable Bond Scheme

SCOTLAND: The Scottish Government has increased the financing for its Charitable Bond programme by £25 million, bringing the whole commitment to increase the supply of affordable homes in Scotland to £105 million.

With the help of the Charitable Bond Program, which lends money to social landlords and then invests the interest as grants into the social rental sector, more housing is now available.

When the programme was first introduced in November, the Scottish Government promised to contribute up to £80 million through it. This comes on top of the $260 million in affordable housing that the programme has provided since 2014.

One of the organizations to gain will be Kingdom Housing Association, which will use a loan to build more than 300 houses in east central Scotland for mid-market and social rent.

We're happy to report that more than £100 million has been secured for the social housing industry in just three months. These resources will assist both big and small borrowers in Scotland to construct additional, urgently required, affordable houses.