Welsh Housing Partnership, About Us

About the Welsh Housing Partnership

Welsh Housing Partnership is an innovative partnership of housing associations in Wales. Our purpose is to increase the provision of quality affordable homes.

Origins

The Welsh Housing Partnership (WHP) was established in August 2011 with the following aims:

  • to increase the supply of quality affordable rented homes
  • to establish an ethical rental model, offering long terms quality rentals to tenants
  • to make efficient use of public finance
  • to create financial capacity for the housing groups by holding the funding in a separate company

Key to creating the WHP was the support provided by Welsh Government and by the Principality Building Society. Without their commitment the scheme could not have gone ahead. The WHP has continued to grow in subsequent years and now owns more than 1,000 homes throughout Wales.

Who the Welsh Housing Partnership houses

The WHP was established to find a way of providing good quality affordable housing to those in low paid work who cannot afford to buy a suitable home, and do not have sufficient priority to be allocated scarce social housing. Predominantly living in the private rented sector, these households face a variety of increasing problems. These include:

  • ‘in work’ poverty, caused by high rents and high heating costs from poorly insulated housing
  • lack of security, leading to problems with maintaining consistent schooling and social networks
  • poor standards both of the accommodation and of the landlord service provided within the private rented sector

The WHP was not intended to be a replacement for, or an alternative to, social housing, but rather to provide an additional resource to provide an option for those unable to access either home ownership or social housing.

The Welsh Housing Partnership partners

The WHP is a company owned by 4 housing groups, Coastal Group, Gr┼Áp Cynefin, Hendre Group and Pobl Group. They have a combined turnover of over £220m, own and manage over 30,000 social rented homes across Wales, as well as providing other services such as support and care. To find out who operates the partnership in your area, visit the “Contact Us” page.

How the Welsh Housing Partnership works

The WHP buys or develops new homes using a mixture of borrowing and equity investment from the partner associations. Welsh Government also provides some grant funding. The houses are then leased to the partner associations who take full responsibility for lettings, rents, repairs and improvements. Rents are set at an intermediate level; that is a rent that is higher than a social housing rental while still being affordable to the people we aim to house.

Funding for the first phase of purchases by WHP came from the Principality Building Society, and subsequent phases were also funded by the Yorkshire Building Society, another mutual society.

In 2017 the WHP successfully concluded a refinance of its borrowings with the Pensions Insurance Corporation.

A new sister company has now been formed for purchases dated following the refinance, and arrangements for loan funding for this company are being finalised.