Homes England, the government’s housing and regeneration agency, has joined with Octopus Real Estate, part of Octopus Investments and a leading specialist real estate investor and lender, to create the second phase of their popular Greener Homes Alliance initiative. They have selected the Lighthouse Charity as their wellbeing partner to deliver a force for good in the industry.
The Alliance will commit £150 million of funding, £42 million of which will be provided by Homes England’s Home Building Fund. This will provide small and medium sized (SME) housebuilders with further loan finance, enabling even more high-quality, energy efficient homes to be built across England.
Phase one of the Greener Homes Alliance made a significant impact as part of broader efforts to expand the supply of finance available to SMEs. 20 loans were completed totalling £150 million, delivering over 550 new sustainable homes.
More than 40% of the homes built during phase one achieved an Energy Performance Certificate (EPC) rating of A, and 100% secured a Standard Assessment Procedure (SAP) score higher than 86.
Phase two of the Greener Homes Alliance will seek to support the creation of more sustainable homes by introducing 10 new criteria for borrowers. These will include the use of modern methods of construction (MMC) and a real living wage paid to workers on site. It will also encourage developers to support the Lighthouse Charity, a leader in mental health within the construction industry and increase awareness of support available .
Marcus Ralling, Chief Investment Officer at Homes England said, “Small and medium housebuilders play a vital and essential role in driving the delivery of much needed, new and sustainable homes.
This extended Alliance is an excellent example of how we are working with partners to support the SME housebuilders that are crucial to building a diverse and resilient housing sector”
Andy Scott, Co-Head of Debt, Octopus Real Estate, said “We are extremely proud of the impact our Greener Homes Alliance initiative has had when it comes to supporting developers looking to make greener decisions.
Looking ahead to phase two, we wanted to consider all the ways that the construction industry can be a force for good, and to look beyond just environment and into social impact.
Alongside environmental targets, we introduced three social targets to reward developers who deliver affordable housing, pay living wages, and provide mental health support to their employees and supply chain.
We selected Lighthouse Charity as our wellbeing partner due to the depth and impact of their fantastic work.
We are encouraging our developers to partner with Lighthouse to demonstrate their commitment to mental health in the construction industry. A site with clear signage to the charity will ensure visibility of their services and signpost to the holistic, emotional, physical and financial wellbeing support available.”
Sarah Bolton CEO of the Lighthouse Charity added. “We are delighted to be a part of the second phase of the Greener Homes Alliance and for developers to demonstrate that they are contributing a high level of social value by supporting the Lighthouse Charity.
For every £1 donated to our charity last year, we produced a social value of £12.19. In addition to this, developers will also be ensuring that their teams and supply chain have access to our charity’s 24/7 support services, offering holistic emotional, physical and financial wellbeing support for all workers and their families.”
