Our Company
Overview
The Housing Finance Corporation is an impact company that facilitates the provision of finance to organisations dedicated to addressing the UK housing crisis – building a fairer, stronger society where everyone has a place to call home.
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Our History
Since 1987, we have partnered with the affordable housing sector through change and challenge – innovating to channel finance into lasting impact. As a trusted mutual, we deliver innovative financing solutions to help our clients build and protect safe, affordable homes that strengthen communities, unlock opportunity, and shape a fairer future – one home, one partnership, one generation at a time.
Corporate Strategy
Our Purpose
To provide financial solutions that enable the affordable housing sector to build and improve homes and create sustainable communities across the UK.
Our Vision
The Housing Finance Corporation will be the catalyst to accelerate the development of affordable homes and sustainable communities.
Strategic Goals
Purpose-led Growth
Grow our business to better serve the social housing and communities sector.
Innovative Solutions
Solve client challenges through a broad range of financial products and services.
Financing Partnerships
Develop strong, lasting relationships with investors to support their investment objectives.
Catalyse Connectivity
Connect organisations effectively and facilitate impactful, mutually beneficial partnerships.
Operational Excellence
Improve internal governance processes and overall operational efficiency across the organisation.
Structure & Governance
The Housing Finance Corporation is a not-for-profit group of specialist finance companies that exclusively lend to UK housing associations supporting the development and retrofit of affordable housing through specialist financial services.
- Director's Independence
- Terms of Office
- Role of Board & Schedule of Reserved Matters
- Committees of the Board
- Diversity & Inclusion Policy
- Modern Slavery Statement
- Group Tax Strategy
All directors are non-executive, with the exception of the Chief Executive, Chief Commercial Officer, and Chief Risk and Operations Officer.
The Board has determined that all non-executive directors are independent and free from any material relationship or circumstances that could materially interfere with their ability to discharge their duties effectively.
Whilst Fiona MacGregor and Alistair Smyth are nominated by the Regulator of Social Housing (RSH) and National Housing Federation (NHF) respectively, the Board considers both to be independent under Code provision 10 of the UK Corporate Governance Code, which sets out the criteria for assessing the independence of non-executive directors. Neither the RSH nor NHF are ‘significant shareholders’ (each holding one share, representing 12.5% of the total issued share capital and voting rights), and neither organisation have a material business relationship with the Group.
Directors are required to declare their interests at the start of every meeting and in relation to any specific business under consideration. Any conflicts that arise are managed or approved by the Board, with a full record maintained in the Board and Committee minutes.
All non-executive directors are limited to a maximum of nine years’ service on the Board. Independent directors are initially elected for two terms of three years, followed by up to three terms of one year. They may offer themselves for re-election at the conclusion of each of these term.
The Chair may serve for a maximum of six years and is subject to re-election annually at the Annual General Meeting. The Chair may serve one additional year if the Board determines that this is in the best interests of the Society. The Board will select each chairperson in accordance with the rules of The Housing Finance Corporation.
The Board sets the Group’s strategic objectives, determines investment policies, agrees performance criteria, and delegates detailed planning and implementation to management within appropriate risk parameters. The Board monitors compliance and progress against objectives, holding management accountable through quarterly performance and budget reports.
The Board holds six scheduled meetings each year covering both standard and ad hoc business. One of these meetings focuses specifically on strategic issues. Ad hoc meetings are convened as needed, where Board approval is required outside of the regular schedule. An ongoing g agenda records emerging issues needing future Board consideration.
Certain matters are dealt with exclusively by the Board. These include approval of financial statements, strategy, major capital projects, changes to management and control structure, and approval of all borrowing and standard lending loan agreements.
All key decisions are made by the Board or its committees. When necessary, certain decisions are delegated to management within clearly defined and minuted parameters.
The roles of Chair and Chief Executive are kept separate.
All Directors may seek independent professional advice at the expense of The Housing Finance Corporation.
Reserved responsibilities of the Board are set out in a Schedule of Reserved Matters.
Downloads
Schedule of Reserved MattersOverview
The Board operates through clearly mandated Board committees.
Each Board committee has specific written terms of reference, which are reviewed and approved annually by both the Board and each respective committee. Committee chairs provide an oral report on committee proceedings at the next following Board meeting.
The Board committees meet at regular intervals to address ongoing business, with ad hoc meetings convened as needed
Audit & Risk Comittee
The Audit and Risk Committee is responsible for reviewing internal controls, financial reporting, annual financial statements, auditor performance and recommendations, auditor independence, the level of non-audit services, and compliance with laws and regulations. The Committee considers financial and operational risks before these matters are brought to the full Board for review at scheduled meetings.
Members are Guy Thomas (Chair), Scott Bottles, Tony King, David Montague and Gail Teasdale. The Group Chair and Senior Independent Director attend by invitation. The Chief Executive and other senior members of staff attend when required.
The roles and responsibilities of the Audit and Risk Committee are set out in its terms of reference.
Downloads
Terms of Reference
Renumeration And Nomination Committee
The Remuneration and Nomination Committee is a non-executive committee of the Board, chaired by Anthony King. The Committee sets policies on Group staff remuneration and terms, including annual pay, bonus awards, and external benchmarking of pay and benefits. It determines the remuneration for f the Chief Executive and executive directors and makes recommendations to the board regarding non-executive directors’ fees. The Committee also oversees annual appraisals of the executive directors.
The Committee meets as needed to consider potential Board nominees, including executive and independent non-executive directors. Annual, the Committee evaluates the balance of skills, experience, independence, and knowledge on the Board and uses this assessment to prepare role and capabilities descriptions for Board appointments.
Members are Tony King (Chair), George Blunden, David Montague, Shirley Smith and Fiona MacGregor. The Chief Executive and other senior members of staff attend when required.
The roles and responsibilities of the Remuneration and Nomination Committee are set out in its terms of reference.
Downloads
Terms of Reference
New Business Committee
The New Business Committee assesses the suitability, strategic alignment, and risks of new business opportunities for the Group. The Committee evaluates financial, operational, regulatory, and reputational considerations, appropriate risk mitigation, and makes recommendations to the Board on new proposals.
The Committee also considers significant credit propositions escalated by the Executive Credit and Issuance Committee, ensuring they receive appropriate scrutiny before referral to the Board.
The Committee meets monthly and provides a forum for constructive challenge and support of proposals, helping ensure new opportunities align with the Group’s long-term objectives and risk appetite.
Members are David Montague (Chair), Scott Bottles, Tony King and the Chief Executive. Other senior members of staff attend when required.
Full details of the Committee’s roles and responsibilities are set out in its terms of reference.
Downloads
Terms of Reference
The Housing Finance Corporation is committed to nurturing a diverse and inclusive workplace, where every employee can thrive and reach their full potential. Our Diversity and Inclusion Policy is designed to ensure all colleagues, clients, and stakeholders experience respect, fairness, and equal opportunities.
Downloads
Diversity and Inclusion Policy SummaryThe Housing Finance Corporation publishes a Modern Slavery Statement in accordance with section 54 of the Modern Slavery Act 2015.
Downloads
Modern Slavery StatementThe Housing Finance Corporation publishes its Group Tax Strategy annually, as required by UK legislation. This promotes transparency and accountability in tax matters.
Our strategy sets out our approach to tax risk management, tax planning, and compliance with HMRC and all relevant regulations. We are committed to acting with integrity and responsibility, supporting our mission to enable affordable housing across the UK
Downloads
Group Tax Strategy
Contact Us
We’re here to help you channel finance into lasting impact. Get in touch to explore how we can support your mission – one home, one partnership at a time.
Contact Details
Location
3rd Floor, 17 St. Swithins Lane,
London, United Kingdom, EC4N 8AL