Affordable housing development

Case study

CHANGING LIVES WITH AFFORDABLE HOMES

Social housing provider Glen Housing partnered with CAF Bank to finance the purchase of accessible homes that change tenants’ lives.

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PROJECT SNAPSHOT

Purchase of 37 new homes for social rent
To provide accessible homes for tenants, enabling them to live with dignity

THE CAUSE

Glen Housing Association is a registered social landlord providing affordable homes for rent. It owns and manages over 400 homes across Fife, Scotland. Glen Housing is proud of the fact that all of their homes meet the Scottish Housing Quality Standard. What’s more, their tenant satisfaction levels are above the Scottish average.

Several Fife towns have a limited supply of rented accommodation. Glen Housing Association partners with developers to build affordable homes for rent. Crucially, the association also makes sure these homes meet the needs of locals. This may be by creating amenity bungalows, or homes with access for wheelchair users.


OUR SUPPORT

With a CAF Bank loan of £1.6m, the association bought 37 new houses from the developers at three sites: Castlefleurie, Tassie Court, and Methil Brae.

Anne Dickie, Director of Glen Housing, explains why they chose us, “I thought that the ethos of CAF Bank, looking to work with other charitable organisations, fits with the outlook that our association has as well. We found them very open, very transparent.”


I thought that the ethos of CAF Bank, looking to work with other charitable organisations, fits with the outlook that our association has as well. We found them very open, very transparent.

Anne Dickie
Glen Housing Association


Not long after the developments were completed, CAF Bank representative Stuart Niven made a visit to see first-hand the effect these new homes were having on the community. “I thought, that’s actually really quite impressive,” says Anne “I’ve never had any previous lenders who were that interested in the final outcome.”

THE IMPACT

For Stuart, who is based in Scotland, understanding the impact of our loans is an important part of his role. “Long term, well maintained, affordable homes really support poverty reduction, good health, wellbeing and sustainable communities” he reflected.

The amenity bungalows and wheelchair accessible homes have completely changed the lives of some residents – including the ability to move from room to room without assistance.

The project’s impact on the community is summed up by Celia, who lives in one of the accessible homes, “It’s not just everyday living. It’s life-changing. This is our forever home.”


PROJECT TAKEAWAYS

Future proofing developments

Glen Housing’s homes are underpinned by both long-term planning over 30 years and working in the community to understand both present and future needs.

Early engagement with lender

These homes were financed after a period of engagement with CAF Bank to build a relationship of mutual trust and understanding. Sharing your thinking with your lender can help strengthen this partnership and really support your project.


NEED HELP TO BRING YOUR IDEA TO LIFE?

Flexible loan finance and a partner who understands your business model can help you get your project off the ground. Find out how.

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