The Church of England has committed £2m to donating to charities with a view to provide housing to vulnerable people.
The money is a cut from a £25 million fund from the Church of England's Social Impact Investment Programme, given to the second Social and Sustainable Housing Fund (SASH II) managed by Social and Sustainable Capital.
With the money, the Church of England aims to help over 30 organisations purchase 1,000 properties, providing homes for 10,000 people over the life of the fund.
They seek to enable charities and social sector organisations to attain property so that they can provide a combination of high quality housing and targeted support to vulnerable people.
Vanessa Morphet, head of the Church of England's social impact investment programme, said: "Our investment in SASH II will support social housing charities to own their properties, enabling them to provide the right combination of safe and stable accommodation and support services to vulnerable people, and to invest in the sustainability and energy efficiency of those properties over time.
"There is a clear alignment with the mission, and social and environmental goals of the Church's Programme."
The money will help to support vulnerable adults requiring extra support, or those at risk of homelessness. Typically, the charities involved in these projects work with victims of domestic abuse, those experiencing mental health issues, or people grappling with addiction, seeking asylum, or ageing out of the care system.
According to the Church of England, 200,000 people in the UK currently live in housing on a 'transitional basis'.
This is often the case for people in need of additional support, to bridge the gap before they return to independent living.
Ben Rick, CEO and co-founder of Social and Sustainable Capital, said: "We are delighted to have the support of the Church of England's Social Impact Investment Programme in SASH II.
"The fund invests in outstanding organisations that are deeply rooted in their communities.
"The first SASH fund proved there was unmet need for this type of funding to enable them to deliver more housing with targeted support programmes.
"Investment from the Church of England's Social Impact Investment Programme into our second fund will allow us to lend to further organisations across the country at a time when their services are more vital than ever."