Homes for Good is a social enterprise letting agency providing secure, quality homes.
Key information
-
Focus area
Social lending -
Investment type
Enterprise equity -
Region
Scotland -
Duration
8 years -
Investment amount
£2 million -
Cost of capital
loan with an equity stake
-
Challenge
In Glasgow, the quality of housing and landlord services at the lower end of the private rental market are generally poor. Vulnerable people and those on low incomes living in some of the most deprived areas of the UK struggle to find a happy, secure home.
-
Solution
Homes for Good buys and refurbishes properties, increasing the supply of good quality housing in the private rented sector and improving the standard of accommodation for vulnerable people.
-
Revenue model
The investment was raised to provide the equity piece in property purchases. It could be repaid in a number of ways at the end of the eight year term, including refinancing through an increase in the portfolio’s value, or selling the properties, preferably to first-time buyers.
-
Impact
Homes for Good will support more than 500 people on benefits, low incomes and those at risk of homelessness over the eight-year investment. They will also support asylum
seekers, victims of domestic abuse and disabled people, making better quality housing available to vulnerable people in Glasgow.
Related investments
-
Social lending
Learn moreThird Sector Investment Fund
Fund providing flexible finance to social enterprises and charities.
-
Impact venture
Learn moreImpact Ventures UK
Venture fund providing early-stage growth capital to social enterprises in the UK.
-
Social lending
Learn moreCharity Bank
Charity Bank is an ethical bank that uses its savers’ money to lend to social enterprises and charities.
You may also be interested in
-
Learn moreSocial lending
We want to see a social lending market that meets the needs of a diverse range of social purpose organisations and investors alike.
-
Learn moreOur approach
We work with expert partners to understand people’s needs first. Then, using our knowledge and capital, we collaborate and invest with fund managers who also want to create a better, sustainable future.
-
Learn morePortfolio
We make investments that create an impact on people, generate returns for investors, and change the system.
