Code of Ethical Business Practice

Goldfinch Property Investments (trading as McCracken Meek Property Developments Ltd) operates with a clear ethical foundation. We believe in doing business with integrity, transparency, and responsibility, for the benefit of everyone we work with, and everyone we house.

This code outlines how we work with investors, partners, suppliers, and communities. It details the standards we set for ourselves and those in our value chain, including expectations around human rights, working conditions, environmental care, and legal compliance.

We encourage all prospective investors, collaborators, and stakeholders to review this document in full.

Introductory Statement from Directors  

Our commitment to ethical behaviour is central to the way Goldfinch Property Investments operates. We are committed not only our ethical mission, but doing business the right way, based on a culture of ethics and compliance.  

Although we have a clear mission that is ethical at its core, we deliver this via a business model with a value chain and different stakeholders involved, hence we need to keep in mind ethics, transparency, legality and integrity in our relationships with all our suppliers and stakeholders.  

We will welcome into our supply chain only those organisations that comply with, on paper and in practice, no abuses of human rights, legal rights, and more generally abide by good moral and ethical principles; we will research and monitor that this is the case with each supplier or provider of services. 

We are members of the Institute of Business Ethics who hold a copy of this document 

We operate in line with the requirements of the Financial Conduct Authority 

Directors 

Natasha McCracken (Managing Director) 

Andrew Meek (Finance and Design Director) 

 

  1. Mission & Core Ethical Principles and Values 

Our vision is that everyone should have access to good quality emergency housing and support, followed by support into longer-term independent living, and that members of the public can have a significant effect in this coming about in a sustained way. 

Our mission is to contribute to the stock of good quality housing and work in partnership with ethical support providers, financial investors and charitable equity providers and partners for the benefit of those who are homeless or at risk of homelessness.  This predominantly includes homeless adults and families, adults and families fleeing domestic violence, care leavers and ex-forces personnel. We are doing this by encouraging private investors to make investments that benefit the ultimate vision and building other mutual beneficial relationships. We will provide Sharia-compliant options to participate in meeting the vision. 

Our values at Goldfinch Property Investments are: 

  • Honesty 

  • Integrity  

  • Trustworthiness  

  • Respect for others  

  • Responsibility  

  • Accountability  

  • Reliability  

  • Obedience to the law 

Our stakeholders include: 

  • Private investors  

  • People whom we have housed in our properties 

  • Housing managers and Care providers  

  • Individuals and organisations who choose to make a gift of land, property, or finance 

  • Individuals and organisations with whom we joint venture 

  • Charities 

  • Individuals and organisations who choose to publicise what we do 

  • Individuals and organisations from whom we purchase property 

  • Policy makers 

  • Employees, volunteers, site-workers and subtractors  

To all of these stakeholders we have a duty to apply our values 

Specifically: 

  1. Private Investors 

  1. We will abide by the Standards set out by the FCA (Financial Conduct Authority)  

  1. We will borrow only from ‘educated Investors’ whom we define as one of three of the below:  

  1. High Net Worth: Annual household income of at least £100,000 in last financial year (if it is joint income to reach this threshold it can be taken out in both names) OR net assets of £250,000 or more (net assets do not include primary residence or pension) 

  1. Self-Certified Sophisticated Investor: At least one of the following applies: 

  1. worked in private equity or in the provision of finance for SMEs  

  1. been a director of a company with an annual turnover of at least £500,000  

  1. made 2 or more investments in an unlisted company  

  1. been a member of a network or syndicate of business angels for more than 6 months 

  1. Sophisticated Investor: received a certificate from an authorised firm in the last 3 years confirming they understand the risks involved with illiquid securities. 

  1. We will not in any way knowingly mislead an investor as to their alternative investment options 

  1. We will ensure any potential investor understands the investment product by a face to face conversation (this can be face to face online) AND in written format. 

  1. We will make full disclosure of our business and personal assets such that the potential investor can make an informed decision as to whether they feel comfortable investing with us. 

  1. There will be ’clarity of intention’ at the beginning of a loan as to the social purpose of the investment, and we will proactively engage in conversation if circumstances change as to whether the loan or equity is put towards a different project, activity, or repaid early. 

  1. We will alert the investor immediately if we believe there may be a delay in returning their investment  

  1.  There will be full disclosure, at the outset, of any risks associated with any project e.g. some projects may have an uncertain timeline for completion 

  1. People who are homeless or at risk of homelessness as described in our mission who we have housed in one of our properties 

  1. We will create homes with best practise design and quality standards 

  1. Our homes will be safe, and fully compliant with building and fire safety regulations 

  1. We will endeavour to ensure that the home is maintained to a good standard 

  1. We will endeavour to ensure care and support will be provided to a high standard 

  1. Housing managers and Care providers  

  1. We will undertake due diligence that the housing management team will keep the house in the same condition they received it throughout the term of the lease, making the accommodation a pleasant place to live and immediately mitigate any hazards should they appear 

  1. We will undertake due diligence that the support team will give good quality support to tenants, and only work with providers that can give evidence of the standard of their housing and support. 

  1. We will ensure we have the right to check the property once a year to ensure good standards of living for the tenants are maintained. 

  1. We will ensure, to the best of our ability, that the housing provider is financially strong enough to make monthly payments to us as agreed in the lease (such that we can be sure of regular repayment of investor if they choose to ‘stay in’ the project as an independent mortgage provider or equity partner) 

  1. We will abide by our obligations as per the terms of the lease 

  1. Individuals and organisations who choose to make a gift (this could be cash, equity, or land) 

  1. We will maximise and focus the impact made, guided by their social concerns and make sure we can demonstrate the impact as far as possible 

  1. Charities 

  1. We will ensure that we will present ourselves and our work in an honest way such that they can decide whether they wish to engage or align themselves with our organisation 

  1. Individuals and organisations who choose to positively publicise what we do 

  1. We will give you an honest and fair reflection of our activities, skills, and plans. 

  1. Purchasing property 

  1. We would not seek to purchase a property at below market value from someone who we did not believe had the mental capacity to make such a decision; we would recommend they seek advice before selling at that price 

  1. Policy makers  

  1. We will always seek to meet our understanding of best practice.  We will actively pursue conversations with policy makers and where there are barriers we accept compromise where it may be preferable in order to meet our vision, whilst not compromising our core values. 

  1. Employees, volunteers, suppliers, and subcontractors. 

  1. Goldfinch Property Investments expects its employees, volunteers, suppliers and subcontractors to bear a responsibility to adhere to the ethical code presented to them. It is the responsibility of the Directors to present the code to them, clarify and bring to their attention the issues most pertinent to them in person/on-line.  All employees, volunteers, suppliers, and contractors are expected to adhere to this Code in their professional, as well as personal conduct. 

  1. The standards that we set for ourselves regarding our employees, volunteers, suppliers, and subcontractors follow in the sections below. 

  1. Human rights 

We are committed to respect human dignity and the rights of each individual and community with whom we interact during the course of our work.  We shall not, in any way, cause or contribute to the violation of human rights. Our staff shall treat everybody with dignity, respect and care and uphold human rights. We shall be mindful if our subcontractors and stakeholders are not operating to the same standards bringing it to the attention of the relevant authorities.  We retain the right to cease our business relationship if this is proven to be the case or suspend employment during any investigation. 

  1. Fair labour practices and working conditions 

We are committed to promote equality in our employment practices and to fair employment and remuneration policy in compliance with applicable laws. We are firmly opposed to employment or contracting of child or slave labour or any form of forced or compulsory or bonded labour. We condemn all forms of illegal, unfair, unethical labour practice that exploits workforce, destroys social security or serves as tax evasion, including but not limited to undeclared and “grey” work or holding back wages.  We shall be mindful if our subcontractors and stakeholders are operating in this way and bring it to the attention of the relevant authorities.  We retain the right to cease our business relationship if this is proven to be the case or suspend employment during any investigation. 

  1. Discrimination and harassment 

We provide equal opportunity in the selection and treatment of employees and subcontractors and do not tolerate discrimination, intimidation, bullying and harassment. We will not tolerate it if we see our own subcontractor treating their own staff in this way and will not engage with such suppliers if we become aware of this. All staff within the value chain, working for us or as stakeholders delivering our mission, are expected to follow the highest standards of conduct in all verbal and written communication, based on mutual respect, and must refrain from any form of harassment, discrimination, slander or any behaviour that could be taken as offensive, intimidating, humiliating, malicious or insulting. Such instances will be investigated, may end their relationship with us and be reported to the relevant external authorities 

  1. Health, Safety and Environment 

Office-based work: we run home offices, on a paperless basis as far as is possible, avoid printing excessively and use double-sided and black and white as standard. We recycle our printer cartridges. We engage as far as possible in homeworking which minimises total utility usage and reduces carbon emmissions due to lesser need to commute.  We use public transport in preference to private vehicle transport as much as is practicable. 

Site operations: we will ensure, as far as it is in our power to do so, workers follow all health and safety regulations for their own safety and that of the tenants and public. We will check that workers have adequate personal safety insurance, and that they have their own codes of behaviour, where necessary, which ensure they do not cause a risk to others.