Financing Co-operative Housing

A group of family and friends have come together to purchase a property and create an intergenerational housing co-op built on environmental sustainability and co-operative values.

In 2024, husband and wife Graham Turner and Kyra Pollitt set up Big Step Housing Co-operative alongside daughter Edie, her partner Spring and their friends Caitlin and Dan. The plan was to purchase a property that would provide environmentally sustainable living and a redistribution of wealth with governance and stewardship based on co-operative values and principles.

Co-operative & Community Finance and Co-op Loan Fund were delighted to work together in providing a loan finance package (alongside loan stock investment from members and supporters) to help enable the purchase of a suitable property north of Glasgow on the edge of the beautiful Loch Lomond and the Trossachs National Park countryside.

The property, named ‘Back Borland’, situated by the historical and picturesque village of Gartmore (approximately 18 miles from Stirling), is over 150 years old and had been comprehensively converted and renovated to a high standard by previous owners in 2005.

The housing co-op is recruiting further members to take up residency within the property and has a vision of adding extra accommodation on the site, growing a community ‘food forest’, holding workshops and offering respite facilities, as well as improving energy efficiency measures.

The ultimate aim is to provide a space where wealth, skills, and resources can be redistributed throughout the community created, both within and beyond the property.

Edie Turner, founding member of Big Step Housing Co-op, said: “We’re thrilled to finally have bricks-and-mortar for our housing co-op. We worked hard creating a financial model to reflect our principle of redistributing wealth from individuals to create an affordable, sustainable, intergenerational community – current members are from 0-61 years old. At a time when secure, good quality housing is unfairly inaccessible to too many in society, we believe that our model offers a radical but viable alternative that others could adopt, and we are immensely grateful for CCF’s support for that vision. Now, our real work begins to turn our new home into a lively hub for people, permaculture and community resources!”

Kevin Lloyd-Evans, Lending and Relationship Manager at Co-operative & Community Finance and Co-op Loan Fund said: “We’re proud to support Big Step Housing Co-op’s bold vision for sustainable, intergenerational living. This project exemplifies how co-operative finance can unlock community-led housing solutions that redistribute wealth and embed environmental values. It’s a powerful model – and we’re excited to see it grow, inspire, and deliver lasting impact.”

A multi-stakeholder co-operative has secured a financial package enabling the purchase of a property that will provide affordable tenancies and access to democratically owned accommodation for students in the Birmingham area.

Founded in March 2018, Student Co-operative Homes (SCH) 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. 

Securing loans from both Co-operative & Community Finance and Co-op Loan Fund 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.

Consisting of nine bedrooms, the detached two-storey house is located close by to the University of Birmingham (just outside the main student population area of Selly Oak) with excellent transport links to the city centre. Living in the housing co-operative while studying enables tenants to come together, pool resources and collaborate for mutual benefit with the view to passing on the accommodation to other students once they leave. Fostering a sense of autonomy among the students also gives time and opportunity to develop their skills and build local connections in the wider community.

Scott Jennings, Chair of Student Co-op Homes said, “We are massively grateful to both lenders for stepping in and supporting this acquisition at such an important time. This enables us as Multi-Stakeholder Co-op and the local Student Housing Co-operative to step forward together and to enact our plans for the future of the property that are essential to enable affordable student housing into the future that addresses and challenges a fundamentally broken student housing market.”

As a multi-stakeholder co-operative with members (with and without property) in Birmingham, Edinburgh, Glasgow, Nottingham, Manchester, Belfast and Bristol and in Cork (Republic of Ireland); the co-operative is keen to see the development of more student housing co-ops across the UK and beyond, acting as a platform for promoting co-operative values and development particularly amongst young people.

Kevin Lloyd-Evans, Lending and Relationship Manager at Co-operative & Community Finance said: “We are delighted to be able to support Student Co-operative Homes Limited purchase this property. Student Housing Co-operatives are an excellent initiative which can help build the co-operative sector of the future. They are attracting a new generation of co-operative members which is good to see.”

For more information about Student Co-operative Homes, you can visit their website.