Foscadh Housing’s collaborative partnerships with national, regional and local organisations and private lenders underpins a range of innovative funding mechanisms that support the construction and purchase of high-quality housing. Our funding sources include:
• Capital Loan and Subsidy Scheme (CLSS) – The CLSS is a mortgage loan where the capital repayments and interest charges are waived providing the housing association complies with the terms of the scheme. It provides 100% capital funding for a housing project and is primarily utilised to house low income families.
• Capital Advance Leasing Facility (CALF) – CALF is exclusively available to Approved Housing Bodies (AHBs) to help access private or Housing Finance Agency (HFA) finance for the purchase, construction or refurbishment of property for social housing purposes under the Social Housing Current Expenditure Programme (SHCEP).
• Payment and Availability Agreement (P&A) – A P&A is a contract which forms the basis of a lease arrangement between the local authority and an Approved Housing Body for the purposes of leasing a housing unit. The term of the contract must be between 10 and 30 years and the rent payable based on a percentage of approved market rent, typically 92% of market rent. The P&A ensures the tenant can only be charged a rent determined in accordance with the local authority’s differential scheme.
• Housing Finance Agency plc. (HFA) – The HFA’s function is to advance loan finance to local authorities, the voluntary housing sector and higher education institutions, where the finance is used by them for any purpose authorised by the Housing Acts and to borrow or raise funds for these purposes.