Social and Sustainable Capital (SASC) and the Garfield Weston Foundation (GWF) have partnered to develop and seed the Housing Pathways Fund (HPF), an impact first fund designed to expand the supply of affordable stepping stone accommodation across the UK.
The Fund targets a critical gap in the housing system as thousands of people remain stuck in supported or temporary accommodation despite being ready to live independently, simply because there is a critical lack of genuinely affordable options for them to move on to.
To address this, HPF provides flexible, low-cost loans to experienced social sector organisations so they can acquire and manage high quality homes at genuinely affordable, income appropriate rents, which are below conventional ‘Affordable Rent’ levels and paired with tenancy sustainment and employment support. These homes are a vital stepping stone, to help people build stability and confidence before moving into longer term housing.
GWF has provided a cornerstone investment, and the partners are seeking to raise a further £15–20 million to meet strong demand from charities across the UK and unlock stalled housing pathways.
A practical model unlocking supply
The Fund combines social impact with a flexible lending structure that enables social sector organisations to own and manage homes that meet local need. It provides:
- Flexible, interest-only, secured loans
- Fixed interest rates of c. 2% per annum
- 10-15 year term
- Up to 100% financing for acquisition, development or refurbishment of residential properties
- Non recourse borrowing for charities and social enterprises
HPF addresses the “missing middle” in the housing pathway: people ready to move on but unable to do so as the finance offer promotes genuinely affordable rents for tenants giving them the time and space to save for a deposit and prepare themselves for the ultimate move into long-term independent living.
Expected impact
Over its lifetime, HPF aims to deliver:
- More than 150 homes in long term social use
- Around 1,200 people housed
- More than 75% of tenants moving into independent living
- A focus on the most deprived communities in the UK
Delivery partners will provide tenancy sustainment and employment support, working closely with local authorities to support transitions into the private rented sector or social housing.
Building on a proven track record
Since 2017, SASC has:
- Financed 36 supported housing charities
- 771 houses have been funded, providing stable homes for 3,622 people to date
- In 2025, 85% of tenants in SASC-backed homes made a positive move-on
- 78% of homes are in the top third most deprived areas in the UK
Bernice Affat, CEO, Social and Sustainable Capital, said: “Many people are not stuck in supported housing because they need to be there, but because there is nowhere that is realistically affordable for them to go. The Fund tackles a clear market failure in affordable stepping stone accommodation, helping disadvantaged people including young people leaving care, survivors of domestic abuse and those facing multiple needs homelessness take the next step towards safe, independent living.”
About the Garfield Weston Foundation (GWF)
The Garfield Weston Foundation is a family founded charitable grant making foundation supporting a wide range of causes across the UK, including welfare, youth, housing and communities. www.garfieldweston.org
