Charity Bank backs Prosperity Vita's UK affordable housing push
What's the deal? Prosperity Vita, a Birmingham-based for-profit registered housing provider, has secured debt funding from Charity Bank to acquire affordable homes across the UK. The deal was announced in July 2026.
Who's involved? Prosperity Vita is the registered provider within Prosperity Group, which has delivered more than 4,000 homes across the UK. Its projects include JQ Rise, a 226-home development in Birmingham's Jewellery Quarter.
What's the money for? The funding will support Prosperity Vita as it grows its affordable housing pipeline. The provider was set up to deliver and manage affordable housing within larger developments, including Section 106 requirements.
Why now? "Securing funding from Charity Bank is a significant milestone for Prosperity Vita," said Joe Billingham, chairman of Prosperity Group and a Prosperity Vita board member. He said the investment would help the provider "unlock, acquire and deliver much-needed affordable homes."
The lender's angle: Charity Bank is an ethical bank that finances charities, social enterprises, and impact-led organisations across the UK. Adam Ruffinato, its head of structured finance, cited Prosperity Vita's "focus on delivering safe, affordable housing and its strong local presence in Birmingham."
The endgame: Prosperity Vita aims to build "tenure-blind communities where residents have access to safe, sustainable and affordable homes," Billingham said. The provider plans to expand delivery in the West Midlands and across the UK.
The signal: The deal points to continued appetite among mission-driven lenders to fund affordable housing, pairing private development platforms with registered providers to meet demand for lower-cost homes.
Read more: Insider Media
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