Housing association innovation in delivering affordable credit

This report shows that:

• a main benefit reported for tenants who received an affordable loan was the ability to meet essential needs. Other benefits were improved financial inclusion and money saved in lower interest payments (compared to using high-cost credit);
• the evidence was limited regarding whether the take-up of affordable loans replaced tenants' use of high-cost credit;.
• low take-up of schemes by tenants was a commonly reported problem;
• affordable credit schemes can help some tenants to meet essential needs, but not those who lack the spare disposable income to afford loan repayments; and
• a strength of the case study schemes was that they were part of wider financial inclusion and anti-poverty strategies.