Allia C&C has been supporting the vital development of affordable homes across Scotland for several years with its Scottish Charitable Bond programme. The bonds provide simple, affordable loans to housing associations solely for building affordable housing, using Scottish Government investment.

In addition, the interest on the loans enables the Scottish Government to also provide grants for further social housing benefit. 

The loans are available for five to 15 years on an unsecured basis with light covenants in place, and no loan or interest repayments are made until the end of the term.

Since the 2015/16 financial year, the Scottish Government has invested over £208.5m into the bond programme. This has led to over £152m being issued as loans to 16 housing associations, some coming back to receive multiple loans over different years.

The investment has also enabled the future loan interest of over £56.5m to be allocated as a grant fund, of which £42m has already been donated to 13 different housing associations.

Daniel Carrico, head of origination at Allia C&C, said: “We are so proud to be part of a programme which has created an incredible amount of social impact. The 2019/20 year has been our most successful to date, with £63m of loans issued to six different housing associations – and generating over £25m as a grant fund from the future loan interest.

“Receiving a further £40m from the Scottish Government for the next financial year really helps us to continue our mission of amplifying social and economic impact through these unique bonds, whilst helping the Scottish Government achieve their 50,000 new affordable homes target.”