Foscadh Housing Funding

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) – Is a facility which is exclusively available to Approved Housing Bodies (AHBs) to assist them in accessing private or Housing Finance Agency (HFA) finance for the purchase, construction or refurbishment of units that will then be made available for social housing purposes under the Social Housing Current Expenditure Programme (SHCEP).

Payment & Availability (P&A) –  All the standard terms and conditions that apply in an ordinary P&A agreement will apply in the P&A to be used for CALF. These include: The term must be between 10 and 30 years and the rent payable will be based on a percentage of the market rent approved by the Department, typically 92% of market rent. The P&A agreement provides that 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

Mortgage to Rent (MTR) – The Mortgage to Rent (MTR) scheme is a government scheme to help homeowners who are at risk of losing their homes due to mortgage arrears. It lets homeowners in mortgage difficulty switch from owning their home to renting their home as social housing tenants. The scheme is overseen by the Department of Housing, Local Government and Heritage and is administered by the Housing Agency.