CASE STUDY
STUDENT CO-OP HOMES
LOAN AMOUNT: £75,000
What was the loan used for?
Securing loans from both Co-op Loan Fund and our partner organisaiton Co-operative & Community Finance has enabled Student Co-operative Homes to purchase the property currently resided in by the Birmingham Student Housing Co-operative set up in 2014. The acquisition has helped lay the future roadmap for the property and the local co-operative, enabling a collective long-term vision with renovations, retrofit and a green agenda alongside the existing positive impact for students’ wellbeing of security in the property, affordable rents, democratic control and a purposeful student community.
Background
Founded in March 2018, Student Co-operative Homes aims to bring together existing and start up student housing co-operatives across the UK and build a portfolio of properties for lease to local self-managing student housing co-ops The board is made up of individuals nominated by ‘user members’ – frequently current student residents – along with ‘investor supporter’ members, these are generally individuals with years of experience and expertise in the co-operative sector or established Co-operatives such the Heart of England and Midcounties Retail Co-operatives who bring their experience and capital in support of Student Housing Co-operatives.
Investment in affordable housing
Housing co-ops offer an excellent opportunity to meet the affordable housing need in the UK. However, the sector is massively under resourced. Supporting housing co-ops and proving the model works is vitality important to Co-op Loan Fund.
Housing co-ops help us take the control and ownership of our own homes into our own hands and away from unscrupulous landlords and corporations. We are proud to support co-op housing and help create an altogether different way for you and your right to fair and affordable housing.
To find out more about housing co-op loans please contact:
info@coopfinance.coop