When the FHIL scheme was developed we produced some conservative projections on the amount of capital we would receive from regular payments, occasional payments and redemption of loans. These projections were used to justify the viability of the scheme to DCLG.
In April 2013, 4 years and 7 months after the project was launched, we were delighted to announce that we were ahead of our projections, the first £1 million had been repaid and would be recycled as further loans. Just 14 months later we have hit the £2 million mark! 26% of all of our loans have been repaid and the funds recycled, or are ready to be recycled.
Posted 10 June 2014