This week’s comment came from Arron190, in response to the article: Govt ‘caved in to vested interests’ on no-fault evictions, deputy Labour leader says 

Arron190 said: “Rayner’s hypocrisy equals her property knowledge. Banning ‘no-fault’ evictions will deter landlords, making the market worse. They can also ruin communities where landlords would be unable to secure written complaints from neighbours to evict a ban tenant.

“Sunak is doing an awful job, but things will clearly be worse under Rayner.” 

The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions.

This week’s comment is in response to: Networks can’t afford to ignore the specialist market – Rees

Paul Smulovitch said: “From the network’s point of view, it’s absolutely right; they see it as high risk and want all cases to be referred to a packager, but while this works for some brokers, those with more experience and competence then, as stated here, it’s incredibly frustrating to hand the client over for someone else to advise.

“If the service is poor, which can often be the case, then it badly affects the client-broker relationship, and for non-regulated deals with little risk, why can’t brokers deal? Many brokers go down the directly appointed (DA) route for this reason as they feel they have no or limited control over their destiny due to the controls and limitations in place, which, for those who are incredibly safe, is sad.”

The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions.

Leeds Building Society said the partnership aligned with its overall purpose of getting more people into homeownership, which included young care leavers. 

Research from the British Association for Social Workers showed that a third of young people become homeless in the first two years after leaving care, while a quarter of homeless people have been in care at some point in their lives. 

In 2022, 30,070 children left care. 

Leeds Building Society said young people leaving care faced a “cliff edge” as support declines once they reach adulthood. 

The mutual will aim to raise a minimum of £300,000 over the three-year partnership to fund the ‘Building Brighter Tomorrows’ programme. This helps care-experienced people access tools and resources to build their future. 

It will help them find somewhere to live, learn independent living skills, continue with education or find work and access further support once they have left care. 

The mutual’s members and colleagues will raise money through fundraising activities.  

‘Feeling safe and secure in a home impacts emotional wellbeing’

Richard Fearon (pictured), CEO of Leeds Building Society, said: “We all know the value of a place to call home. It’s the cornerstone of a safe, secure life. We are thrilled to be working with Barnardo’s to ‘build brighter tomorrows’ by helping care-experienced young people on their path to a more secure future. 

“Everyone deserves to transition into adulthood with the right tools and support structures, regardless of their background or circumstances. Sadly, this is not always the case. That’s why we’re proud to appoint Barnardo’s as our charity partner for the next three years. 

“Through the partnership, we want to support young care leavers to find a home. We recognise that feeling safe and secure in a home impacts emotional wellbeing, and we are proud to pledge funds to be part of the positive change that Barnardo’s is making.” 

Lynn Perry, CEO of Barnardo’s, added: “Child poverty is growing fast within the UK. We currently reach 400,000 children and young people each year, and with this support pledged by Leeds Building Society, we can continue on our mission to change childhoods and ensure that we never turn a child away. 

“The future can feel so uncertain to care-experienced people. Many care leavers carry burdens that young shoulders shouldn’t have to bear, and through this partnership and the fundraising by Leeds Building Society’s colleagues and members, we hope to make a big difference to the futures of these young people.”  

In February, Leeds Building Society partnered with Become, a charity for children in care and young care leavers, to offer financial education to care leavers.

This week’s comment was in response to the story: New rules for mortgage lenders as quarter of Brits struggle with cost-of-living crisis 

Sox said: “This is very good news, so many times I’ve spoken with clients who, for whatever reason, need a ‘temporary’ fix because they can see that things are going to get worse and they are going to start to struggle. Yet their lender has refused to assist further until they fall into arrears, thus ruining their credit rating, which impacts their lives in other ways and is really not a way to treat people.

“Obviously the Mortgage Charter is currently catching a lot of these people, and long may it continue, but there are other options such as part and part repayments or a three-month payment holiday, for example. Listening and understanding people’s individual circumstances instead of applying a ‘broad brush’ policy is a step forward.” 

Sox added: “I get the impression it’s the lenders’ systems that often prevent this, as they just don’t have the IT capacity to play around with variable payments, but this isn’t really a valid excuse when there is a struggling human being in need.” 

The Atom Futures Fund by Atom Bank and County Durham Community Foundation will be aimed at sixth form students from low-income backgrounds or in the care system, to help them apply to Russell Group universities. 

The North East has the highest percentage of students who are eligible for free school meals in the country and the lowest levels of opportunity to access employment. 

There is also a lower rate of attainment at school after the age of 16, combined with lower levels of progression to higher education. The organisation said all these factors resulted in poorer social and economic outcomes for young people in the region compared to other parts of the UK, and particularly affected those in care or from lower-income backgrounds. 

According to research from Sutton Trust, access to higher education, especially research-intensive universities, can help to improve social mobility. 

How the fund works 

The Atom Futures Fund is split into two parts, with the first offering a £250 cash incentive to at least 20 eligible County Durham students in year 13 who apply for any course at a Russell Group university. The funding can be used to support the application process such as interview preparation, travel expenses and study materials. 

The fund is currently open until 29 April. 

The second part of the fund offers £1,000 for applicants to have received and accepted an offer from a Russell Group university. This will help to aid any financial pressures.

At least five grants will be awarded each year, with the first round in August. 

Atom Bank support for higher education 

The fund is part of Atom Bank’s wider support in the North East, which includes a partnership with the Durham Sixth Form Centre and an annual paid internship programme for students. 

The bank also offers work experience to students from low-income backgrounds through the EY Foundation Smart Futures Chartered Banker Institute programme. 

This year, Atom Bank will begin funding two scholarships to Durham University’s Women in Technology programme. 

It also works with STEM education charities such as Stemettes, which supports girls, women and non-binary people to pursue careers in the vocation. 

Edward Twiddy (pictured), director of ESG at Atom, said: “Attending a Russell Group University provides many young people with a future rich in opportunities and the best chance of fulfilling their potential. But too many talented children from low-income backgrounds or growing up in care aren’t getting these chances, and this is especially true in the North East, where outcomes and opportunities for young people are amongst the poorest in the UK. 

“We can’t solve all the disparities between the most and the least fortunate, but as one of the largest and fastest growing employers in the North East, we want Atom Bank to be at the forefront of driving sustainable economic growth within the community, while unashamedly developing talented individuals who can join our growing workforce. Through the fund and other initiatives, we aim to break down some of the barriers that growing up in poverty or in care can put in front of young people, and in doing so help foster excellence in our region.” 

Michelle Cooper, CEO at County Durham Community Foundation, added: “We know that poverty steals opportunities and restricts futures. Children and young people living in poverty are much less likely to access opportunities in education, and much less likely to have the means to take advantage of those opportunities should they present themselves. 

“With this new fund, Atom Bank is actively working to create brighter futures for the youngsters of County Durham, enabling them to fulfil their ambitions and their potential. We’re delighted to partner with Atom Bank on the Atom Futures Fund and look forward to seeing the fund’s impact over the coming years.” 

This week’s first comments come from: MPs launch inquiry to improve ‘stressful’ homebuying and selling process

Arron190 said: “Buying a property is stressful and many of these issues have been examined repeatedly, but it is curious this is on the list of government priorities over say the regulation of builders, who can cause untold misery on everyone, not just homeowners. This alone could increase tax revenues instead of increasing the rates on those that do pay tax.

“That said, the code to ensure good standards from estate agents and the sales agents for developers referring services is still abused with no evident enforcement. Perhaps a regulator with bigger teeth and one that encourages brokers to report infringements. Or an outright ban if that does not work.”

The comment continued: “The main consumer detriments seems to be: 1) Referral fees of typically £500, but up to £1,000 for law firms that would never receive new business based on service. 2) Non-refundable deposits of £2,000 for new build (up from £200 and refundable) with high-value properties at £5,000. 3) The brokers whom buyers are forced to engage only using 3-6 lenders, despite claiming independence and whole of market. Indeed, this should also be an FCA focus.”

Zeno of Citium added: “It would help from the start if estate agents just sold the house, and if the applicant is already sorted with a broker and solicitor, let them get on with it, rather than trying all desperation measures to unhook that relationship.

“It is funny how they attack the broker link, but never in such ferocity with the conveyancer – probably to avoid being sued for libel.”

‘More brokers should be selling income protection’

This week’s last comment is in response to: Almost half of people buy critical illness cover for financial security and protection

Arron190 said: “This is why more brokers should be selling income protection, which does allow multiple claims and is significantly cheaper. For many illnesses, people need to cover the financial impact to ensure they are in a similar position and not the ‘lottery win’ of a lump sum for an illness that might take 1-2 years to be treated.

“While nice, it is reflected in the price, such that few buyers over 30 can afford to fully protect their mortgage.”

The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions.

He will also be joined by Paul Merrigan, CEO, and Andrew Perryman, head of strategic partnerships at Lifetime Connect.

The Cycle Slam charity ride is part of a wider 12-year partnership Lifetime Group has with Dallaglio Rugbyworks, a charity set up by former England rugby captain and World Cup winner Lawrence Dallaglio to support young people.

The charity aims to help young people to develop life skills, reach their aspirations, improve their physical wellbeing and focus on mental wellbeing.

Scott (pictured) said: “We’ve been taking part [as a business] in this event for the last 12 years and this particular one is the last. The Lifetime team, championed by Paul Merrigan, are so proud of the c.£200,000 we’ve raised over this period.”

The total event runs from 13 to 25 April, going from Rome to Nice. The course is split up into two stages, with some people taking part in the whole ride and others completing a section.

The total ride is 1,166km long, including 14,630m climbing, and the first stage goes from Rome to Genova, while the second is from Genova to Nice.

Scott will be completing the second stage. Merrigan and Perryman will be completing both stages.

He said: “I’ve always been passionate about supporting young people, particularly from lower socioeconomic backgrounds, making sure they have resources to have a fair chance in life. Taking part in this charity ride is a great way to achieve that whilst also keeping fit.”

Lifetime Connect is aiming to raise £20,000 through this event.

The money will be used to fund programmes to support young people, create mentoring schemes and provide opportunities for them to network and develop their skills.

To train for the ride, Scott has completed a training bike ride every two weeks, which is a minimum of 100km. During the week, he undergoes strength and conditioning exercises, as well as additional daily 30km to 50km rides.

Scott said he wanted to make a “call to action” to encourage people to support through donations.

“If you like me, or if I’ve ever helped you in some way, donate. If you don’t like me, or I’ve been a pain in the backside, then definitely donate and you can contribute ironically to my own saddle soreness,” he added.

To donate, click here: https://www.justgiving.com/page/lifetime-connect-1700668182755

This week’s first comments came in response to: The govt has confirmed its disinterest in improving homeownership – JLM

Zeno of Citium said: “With the current government knowing they are toast at the next election, with poll ratings of negative 20 per cent behind, and business donations now going to Labour, then it is a dead end in snuggling up to the housebuilders for their usual largesse (10 per cent of Tory donations came from such sources) and introducing measures to assist on housing, when they will not be in power to benefit from it.”

Stephen Riley added: “Presumably, the authors are aware of the distinction between ‘disinterest’ and ‘uninterest’? I’d argue that the government has confirmed the latter.”

James Burberry said: “Because we need a housing bubble with 99 per cent mortgages, right? Stamp duty exemption for down-sizers would be a good move, but who would get hit with a tax hike to balance things?”

Bridging vs offset mortgages

This week’s second comment comes from: Offset mortgages could ‘make world of difference to landlords’

John noted: “For advisers who advise clients on both mortgages and bridging finance, do you think advisers would want to advise offset instead of bridging? In the long run, advisers lose out financially. What benefits would you be giving to advisers?”

The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions.

Staff from Coventry Building Society and other companies will operate the venue to help single young people between the ages of 18 to 24 to help them access a range of support in one place.

The hub is based at Harp Place on Sandy Lane in Coventry and will be open from 9am to 5pm Monday to Friday.

The hub will also offer support services for single young people, or couples without children.

It will provide a safe space to get support and advice on housing, benefits, education and training.

The support will be provided by St Basils, Coventry Building Society housing, children’s services and partners such as Haven, probation service, Mind and Positive Choices.

The youth hub is central part of Coventry Building Society’s three-year multi-million-pound partnership with national youth homelessness charity Centrepoint.

Steve Hughes (pictured), chief executive at Coventry Building Society, said: “We’re proud to be part of something that’s tackling the issue of youth homelessness in our home city. Coventry Building Society is making a difference nationally through our partnership with Centrepoint, but it’s through the Youth Hub that we’ll see vital support delivered by our partners and bringing positive changes for young people at risk of homelessness in Coventry.

“The hub is a vital addition to the support St Basils, the council and other local organisations can provide, and we have to thank our network of suppliers who have rapidly transformed this space, often at no cost, into a positive and inspiring place for young people to use.”

Seyi Obakin, chief executive at Centrepoint, said: “Almost 136,000 young people faced homelessness last year [in the West Midlands] – this is a shocking figure, but only accounts for those who have reached out to their council for help.

“Many young people don’t know where to turn for support or what their options are, which is why dedicated hubs like this one, connecting vulnerable young people to a range of holistic services, are so sorely needed, not just here but everywhere.”

He continued: “It is a real privilege to stand here today knowing not only what difference it will make in the future but also the amount of hard work from Coventry Building Society and St Basils have put into getting us over the line.

“It’s this sort of partnership working, where expertise and resources are pooled together, that we need to see more of if we want to end youth homelessness for good.”

Kip, a young person who benefitted from St Basils, added: “I am so happy that there is going to be a youth hub in Coventry. Before I was safely housed and supported by St Basils, I was having to retell my story to so many different people and organisations, which is beyond exhausting and upsetting.

“It would have been so much easier if I only had to tell my story once, and not constantly have to constantly relive my past and be extremely vulnerable to strangers.

“This is going to be so useful to young people who need support at a crucial time in their lives. I’m grateful that other young people can now access a single service to help take over the massive burden of navigating the housing system by yourself, so they can concentrate on their wellbeing and building themselves up again, with support from an organisation who believes in them.”

Earlier this year, Coventry Building Society extended its live chat hours to offer more broker support.

Tandem will also offer employees two days of paid volunteering annually and will target one million minutes of volunteering by 2026.

The bank will work with Foundation 92, which focuses on supporting communities to improve their lives through sport, education and bespoke projects.

It will also work with Maggie’s, which provides expert cancer care and support, and The Boathouse Youth, which works with children and young people aged 5-17 years old from deprived communities.

Other charities include Trees for Life, which aims to rewild the Scottish Highlands, and the Felix Food Project, which rescues food waste and delivers it to over 900 frontline charities and schools.

Alex Mollart, Tandem’s CEO, said: “I’m delighted to officially announce our newly revamped charity programme. We’ve done some great work in supporting some great causes over the past, but I’m excited that the new Tandem can have a more coordinated approach and one that touches on more charities – with five partners.

“What’s important is that these partners have been selected by our staff – the ones that matter to them and with our support can punch above their weight in terms of impact, with many offering vital lifelines in the community.

“The team’s already started 2024 with a bang, but we’ve got big ambitions and I’m proud that we can encourage them further with paid volunteering days, a business-wide target of one million minutes and our new roadshows and prizes.”

Last month, Tandem signed the Women in Finance charter.