Equfund’s new Loanstock for community self-build projects raised £0.5m of private investment in the first five days since its launch. All funds raised from the initiative will be going towards the current Toxteth project with aims to build at least 23 homes.
Loanstock is a social impact investment scheme designed to tackle the housing crisis in some of Britain’s most deprived areas. The project aims to provide new homes for those who otherwise would not be able join the housing market by allowing them to invest their own time in building or renovating a property in return for the deposit and financial support.
In 2011, just 105,000 homes were built – the lowest level since the 1920s – which has exacerbated the housing crisis caused by banks’ reluctance to lend and escalating mortgage qualification requirements. It is predicted that in Liverpool, there will be a shortfall of 750,000 homes by 2025.
This innovative community self-build loanstock opened to investors on Thursday 1 September. The closing date is Friday 30 September.
www.equfund.co.uk