Project snapshot

Property purchase
To provide safe accommodation and support for homeless, vulnerable and isolated people

The cause

Porchlight is a leading health and housing charity, based in Kent. It works with people who are sleeping rough or at risk of losing their home. As well as helping vulnerable people to find safe and suitable accommodation, Porchlight provides support with mental health, education and employment, so people can get to where they want to be in life.

Our support

Porchlight's relationship with CAF Bank started in 2018, and discussions began the following year about the help needed to expand its property portfolio.

The charity’s goal was to acquire 6-7 properties, enabling it to provide more support for homeless, vulnerable, and isolated people in Kent. Its directors anticipated this would require funding of approximately £2 million, to which the charity would contribute £500,000 from reserves. To assist with the purchases, Porchlight successfully applied to CAF Bank for a loan of £1.5 million to be secured against the properties.

It completed on the first of these property purchases in December 2020 and went on to buy additional homes in Folkestone and Margate.

It has been a pleasure working with CAF Bank. They have been very supportive throughout the whole process of our mortgage from application stage to maintaining the loan and the purchasing of the properties.

Catherine Keen
Finance Director, Porchlight

The impact

Porchlight and its partners worked with more than 8,300 people in 2021. This included preventing 1,093 people from losing their homes and supporting 560 people who were sleeping rough. Its free helpline answered more than 27,000 calls.

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CAF Bank loans are non-regulated products.

Loan applications subject to credit assessment. Security will be required.

Charity assets may be at risk if you do not keep up with the repayments for a mortgage, loan or any other debt secured on them.

If you're thinking of consolidating existing borrowing, you should be aware that you may be extending the term of the debt and increasing the total amount you pay.

CAF Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 204451).

CAF Bank Limited Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ. Registered in England and Wales under number 1837656.