Enfield Council's Housing Gateway Ltd (HGL) has saved the council £16.1 million to date, according to a report presented at the Overview & Scrutiny Committee meeting on 8 September 2025. These savings are outlined in the 2025/26 business plan. HGL also manages leased temporary accommodation, delivering £5 million in annual cost avoidance for the Council.

HGL, a council-owned company, provides housing solutions that Enfield Council cannot directly offer. The report states that HGL continues to deliver housing solutions that the Council cannot provide.

The company's primary goal is to reduce the council's reliance on temporary accommodation by building a portfolio of quality homes, prioritising residents in greatest need, addressing the Council's statutory priorities and maximisation of stable, affordable housing access.

As of July 2025, HGL's property portfolio included 1,821 homes, with 681 owned and 1,140 long-term leased. The company's turnover has increased from £17.4 million in 2023/24 to a projected £43.3 million in 2024/25. HGL reported a cash balance of £6.2 million as of 5 August 2025.

The Overview & Scrutiny Committee report highlighted that HGL's total liabilities at the end of the 2024/25 financial year were £164.8 million (£140.5 million long-term and £24.3 million short-term borrowings) against assets of £179.2 million.

The report also outlined several key risks for the committee's attention, including:

  • Availability of debt funding
  • A volatile private rented market
  • Property quality
  • Bad debt exposure

Regarding debt funding, the Public Reports Pack states: HGL relies on loans provided by the Council to fund property acquisitions...as such it could choose not to provide HGL with new loans in the future and HGL can consider private market funding solutions. Regarding property quality, the report mentions that increased legislation and regulation in the sector has had the impact of increased costs on HGL and landlords in the private rented sector (PRS).

The council continues to provide support to HGL through nomination fees. In 2024/25, the nomination fee was £7.8 million, which delivered savings to the council in temporary accommodation costs.

The Overview & Scrutiny Committee met to review the Public Reports Pack which included updates on both HGL and Energetik.