PRESS RELEASE: 16 AUGUST 2012
SAF Housing Solutions has today begun filling the funding gap in social housing and supported accommodation across the UK.
With a multi-million pound, Houses4Homes Real Estate Investment Trust (REIT) has commenced the application process for lending: local authorities, housing associations, charities and a variety of other organisations are now able to apply for funding.
SAF Housing’s goal is simple: to provide an affordable source of funding for specialist supported and extra care housing, as well as social housing generally.
For investors, the SAF Housing REIT due to launch shortly will provide a low-risk, long-term investment while meeting central government criteria as a preferred method of funding for future social housing investment.
Initially, the Houses4Homes Real Estate Investment Trust (REIT) will provide funding for supported living accommodation and also consider funding wider social housing. Supported living refers to properties which will provide homes for the elderly and people with disabilities.
Phil Shanks, Founding Director of SAF Housing explains: “The problems caused by a lack of bank lending in the property market are well known to most people. However, in the area of social and supported living we are dealing with local authorities that are obliged by law to provide accommodation to people that need it.
“We launched the SAF Houses4HomesREIT to bridge a widening gap in the market for easy access to low-cost borrowed funds and demand for supported, extra care and social housing.
“Almost a million UK citizens currently either do not have a home or are living in homes that are unsuitable for their needs. 60,000 disabled people live with parental carers of whom many are growing older and will soon struggle to cope. By providing housing associations with access to desperately needed funds at competitive rates, the Houses4Homes REIT will help meet growing demand for social housing.”
Through the SAF Housing funding model, local authorities and housing providers will have access to low cost housing stock outside of the HCA grant process.
Phil said: “Our model will remove the capital repayment of bricks and mortar from the rental system; considerably driving down rents.”
Applications for funding can now be made directly to SAF Housing via our funding page