A new entrant to the social housing lending market has said it will target the smallest housing associations because its charitable, not-for-profit status means that it can better meet their needs.
Charity Bank, which gained its banking licence in April and was officially launched last week by chancellor Gordon Brown, will grow this side of its business substantially. It currently lends £1.4m to 14 associations.

Charity Bank lended to RSLs in its previous incarnation as Investors In Society. It aims to increase to three or four times its current size.

Charity Bank manager Danyal Sattar said: "There has been a core of seemingly good deals that the other banks have been refusing." Any funding deals approved by Charity Bank would have to have been refused by another lender, he added.

Source

Housing Today