LAR can operate across the whole of Scotland, but we are initially focusing on areas identified as having the greatest need for mid-market rented accommodation – Aberdeenshire, the Lothians, Fife and surrounding areas. This will be kept under constant review.
LAR’s overriding aim is to make sure that those most in need are given an opportunity to rent a home. LAR is looking to help people who are in work (or retired) on low to moderate incomes and who are spending a disproportionate amount of their monthly income on rent. To find out if you are eligible please contact us via email@example.com
LAR was launched in October 2015 and is now looking to work in partnership with building firms to make our first homes available. We are currently identifying sites for development and in due course will publicise details of our portfolio of homes online.
LAR’s initial funding came from a 25 year loan of £55 million from the Scottish Government. In addition, in July 2017, LAR secured £65 million of private funding in a deal arranged by Bank of Scotland Commercial Real Estate through its partnership with Scottish Widows. This private finance will enable LAR to boost its portfolio of mid market properties across Scotland.