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.”