How investing for good is transforming houses and lives in Leeds

Socially responsible investors are helping us to make a big difference to the lives of people in urgent housing need in Leeds. Our team at Latch have been working in some of the most deprived areas of Leeds for more than 30 years. We launched our first Community Share Issue back in 2021 to help raise vital funds to expand our work. It was so successful – raising £550,000 in just a few months – that we are again offering investors the chance to give back, with their money helping to transform real lives in the city.

The concept of community share issues works in the same way as the purchase of shares in a standard company. The investment hopefully generates a small return for the investor (up to 5% for this share issue), while your money also does good. Community shares also entitle shareholders to a vote at our AGM, regardless of how many shares you own, making it a really democratic way to make a difference at a local level. Local communities can also group together to invest.

Our first Community Share Issue raised an outstanding £550,000 and enabled us to transform six previously empty and derelict houses into safe, secure, warm and comfortable homes for those in housing need. Our second Community Share Issue, launched in June 2023, has a target of £650,000.

The people we help here in Leeds are right at the bottom end of the income scale and are being particularly hard hit by the rising cost of living. This year is set to be the most challenging yet as people face unaffordable rent increases and soaring high-energy costs. Many are forced to live on the streets or are among the ‘hidden homeless’ – sofa surfing or living in tiny, cramped, poor quality accommodation. It’s shocking that around 26,000 people in Leeds have some level of housing need while an estimated 4,000 houses are currently empty, often becoming hubs of antisocial behaviour.

Safe homes are absolutely vital, but we also go well beyond bricks and mortar. Our property renovations are undertaken by trainees and volunteers working alongside a small team of Latch staff. It’s part of our wider initiative to help the long-term unemployed, by providing them with vital construction skills working on the build projects with the aim of helping them into work.

In addition to providing safe homes for our tenants, our dedicated team of support workers are also here to help them for as long as they need to get back on their feet. This could involve access to extra medical help, help to recover from trauma, support with addiction or getting them back into education and work. Many of those we help are women and children fleeing domestic violence and we also support resettlement work with Afghan and Syrian refugees.

We’re so proud that over the past three decades, we’ve created a total of 107 homes in the city and helped almost 600 people to have a positive new start in life. Renovated houses also have benefits for the wider community, with derelict properties tending to be hubs of antisocial activity. We’re really proud of the long legacy of positive impact we have on both individual lives and those of the Leeds communities where we work.

Funds raised by this new Community Share Issue will also help to secure the jobs of our own staff. Together our team has an astounding 24 years experience in delivering home transformations. Several people on the team initially started out as trainees working alongside us back in the day. But the funding picture is challenging and without confidence about where and when our next properties will be developed, providing job security is difficult.

Funds raised through this latest share issue will provide us with greater certainty. More properties also means we can change more lives for the better. With these additional homes, we could help six more adults and three more children on top of the 568 adults and children people we’ve already helped here over the past 12 years.

Whether you are a seasoned ethical investor or are just looking to explore the world of socially responsible investing, we hope you will take a look at our Community Share Issue and consider what a difference you could help to make. We also work in partnership with a wide range of businesses in the construction trade and beyond so perhaps there are also other ways in which you could help us to transform lives. We would love to hear from you.