Nationwide Foundation invests £262,500 into Community Land Trust Fund

Finance | Vibeka Mair | 6 Aug 2010

The Nationwide Foundation has invested £262,500 towards the Community Land Trust (CLT) Fund, an initiative providing affordable homes to people priced out of their communities in which they were brought up.

The Foundation has already invested £37,500 into CLT's technical assistance fund which carrys out feasibility studies and provides expert assistance into community land trusts.

Its new investment of £262,500 is for pre-development work which will provide start-up loans for housing schemes.

Other investors into the CLT Fund include the Esmee Fairburn Foundation with £1m; the Tudor Trust with £750,000 and CAF Venturesome with £250,000.

The CLT acquires land and builds properties which are sold at below the market rate. One aspect which makes the CLT model for affordable housing distinct is that the land is held in perpetuity by the trust, therefore ensuring long-term affordability.

Lisa Suchet, chief executive of the Nationwide Foundation says: “The Nationwide Foundation is committed to funding housing related projects in the UK and is thrilled to be able to support the Community Land Trust Fund. Lack of affordable housing, particularly in rural areas and for young people, is a real problem.

Our support will contribute to future building initiatives and allow more people to live in the towns and villages in which they grew up. This initiative fits well with Government’s Big Society by supporting local people to volunteer to help their own communities and address local issues at local level.”

Directory: Nationwide Building Society

Comments

[Cancel] | Reply to:

Name *

Email *

Organisation

Job Title

Comments *

Verification *

* Please read our Community Standards

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

Robust but respectful debate
Strongly held opinions
Intelligent relevant discussion
The sharing of relevant experiences
New participants

We will not publish:

Rude, threatening, offensive, obscene or abusive language, or links to such material
Links to commercial organisations or spam postings. The comments board is not an advertising platform
The posting of contact details for yourself or others
Comments intended for malicious purpose or mindless abuse
Comments purporting to be from another person or organisation under false pretences
Gratuitous criticism, commentary or self-promotion
Any material which breaches copyright or privacy laws, or could be considered libellous
The use of the comments board for the pursuit or extension of personal disputes

Be aware:

Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
Comments left by others may not be accurate, do not rely on them as fact
You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

Enjoy the opportunity to express your opinion and respect the right of others to express theirs
Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.