Story Homes for Good: creating affordable homes in Scotland
Homes for Good is bringing quality, affordable homes within reach of hundreds of people on low incomes in Glasgow.
Social Problem
Private landlords often bar people on benefits from renting properties. The homes that are available are often very poor quality or put tenants in financial difficulty.
Solution
Homes for Good buys and renovates properties to let to people on low incomes. The social enterprise also supports its tenants in a number of other ways, from helping them to access benefits to offering advice about budgeting and money management.
Loan
Charity Bank has supported Homes for Good from the start. Loans totalling £6.5 million, delivered by Charity Bank in partnership with another social investor, enabled the social enterprise to buy and renovate more than 190 properties across Glasgow, which will benefit hundreds of tenants over the next few years. The properties will also become long-term assets, so helping to ensure a sustainable future for Homes for Good.
Impact
A warm home free from damp and mould should be a basic right, but for many people it can seem out of reach. Homes for Good is creating affordable homes that people enjoy living in. The social enterprise is now looking to roll out its model to other areas of the UK, helping yet more people to have a place they’re proud to call home.
“We talked to a few lenders when we were starting up. Charity Bank was the most enthusiastic and really believed in what we wanted to do. Charity Bank has been a 100% supportive partner from the start and I know I can just pick up the phone if I want any advice.”
Susan Aktemel, Director, Homes for Good
“I can’t put into words how Homes for Good has changed my life. It has been totally amazing. Giving me a ground floor flat was a godsend, I now have a life again.”
William, Homes for Good tenant
About Charity Bank
Charity Bank is the loans and savings bank owned by and committed to supporting the social sector. Since 2002, we have used our savers’ money to make more than 1280 loans totalling over £500m to housing, education, social care, community and other social purpose organisations.
Nothing in this article constitutes an invitation to engage in investment activity nor is it advice or a recommendation and professional advice should be taken before any course of action is pursued.
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