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Social and Sustainable Capital and Garfield Weston Foundation launch fund to expand stepping stone housing
Howard Lake | 10 June 2026 | News
Social and Sustainable Capital (SASC) and the Garfield Weston Foundation have partnered to launch the Housing Pathways Fund, an impact-first lending vehicle designed to expand the supply of genuinely affordable “stepping stone accommodation” across the UK.
The fund addresses what the partners describe as a critical gap in the housing system: thousands of people remain in supported or temporary accommodation despite being ready to live independently, held back by the absence of affordable options for moving on.
The Housing Pathways Fund will offer flexible, interest-only secured loans at fixed rates of around 2% per annum, with terms of 10 to 15 years and up to 100% financing for acquisition, development or refurbishment of residential properties. Crucially, the loans are non-recourse for charities and social enterprises, reducing financial risk for borrowing organisations. Rents in HPF-backed homes will be set below conventional Affordable Rent levels, allowing tenants time to save for a deposit and build confidence before moving into longer-term independent housing.
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Cornerstone investment
The Garfield Weston Foundation has provided a cornerstone investment, and the partners are seeking to raise a further £15 to £20 million to meet demand from charities across the UK.
Since 2017 the social investor SASC has financed 36 supported housing charities, funded 771 houses, and provided stable homes for more than 3,600 people. In 2025, 85% of tenants in SASC-backed homes made a positive move-on, with 78% of those homes located in the most deprived areas of the UK.
Over its lifetime, the Housing Pathways Fund aims to deliver more than 150 homes in long-term social use, house around 1,200 people, and support more than 75% of tenants into independent living.
Bernice Affat, Chief Executive of SASC, 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.”
Who will the fund help?
Delivery partners will provide tenancy sustainment and employment support alongside housing, working with local authorities to facilitate transitions into the private rented sector or social housing.
The fund is expected to benefit people including young people leaving care, survivors of domestic abuse, and those facing multiple-needs homelessness.
- Garfield Weston Foundation launches £25 million arts fund (21 September 2020)
- Weston Charity Awards winners announced for 2025 (7 July 2025)
- Garfield Weston Foundation report shares learnings on funding application process (27 June 2019)
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.