An additional £25m has been promised to finance more affordable homes for Scotland.
The money will go into the Charitable Bond programme which provides loans to social landlords, with the interest then reinvested as grants into the social rented sector.
The Scottish Government previously committed to provide up to £80m through the programme in this financial year. Now, the additional £25m will bring the total for the year to £105m.
Kingdom Housing Association will be among the organisations to benefit, with a loan enabling it to deliver more than 300 homes in east central Scotland for mid-market and social rent.
‘We want everyone to have a warm, safe, affordable home that meets their needs’, said Housing Secretary Shona Robison.
‘By committing additional funding to the Charitable Bond programme, we are taking yet another step towards our target of delivering 110,000 affordable homes by 2032’.
Kingdom Housing Association executive director Ken Tudhope said its new loan will be the fourth it has obtained through the programme. ‘We plan to utilise the funds across 34 individual construction projects as part of our programme to deliver over 2,000 much needed affordable homes in the next five years’, he said.
