You are here: Home - News -

Government unveils £20m fund to help homeless people into private rented sector

by:
  • 10/10/2018
  • 0
Government unveils £20m fund to help homeless people into private rented sector
Communities and housing secretary James Brokenshire has announced a £20m funding package which the government hopes will help 9,000 people out of homelessness or insecure housing.

 

The fund will be used to either help set up locally-led schemes or expand those currently in use, the Ministry of Housing Communities and Local Government (MHCLG) said.

These schemes will be tailored to match the needs of each local area’s residents and landlords.

This could involve councils providing financial support to help those to access or maintain their tenancies, such as paying deposits for the tenancy or rent payments.

Alternatively, some schemes may involve the council managing the property on the landlord’s behalf.

The minimum tenancy or existing tenancy supported by the schemes will be a period of 12 months.

Up to £5m is available for bids for the 2018 to 2019 financial year with £15m available for the 2019 to 2020 financial year.

 

Duty to refer

The fund is based on a previous programme by homelessness charity Crisis which ran from 2010 until 2014, backed by £11m in funding from the government.

It supported more than 153 schemes across the sector, creating 8,000 tenancies over four years with 90% of these schemes lasting beyond six months.

The fund comes alongside a new duty for key public bodies such as prisons, job centres and NHS Trusts to refer people at risk to their local housing authority.

Brokenshire said the private rental sector could be an important part of helping to reduce homelessness.

“It is vital we give people facing homelessness a route out of it and a chance to rebuild their lives. The private rented sector has an important role in this,” he said.

“This £20m fund will allow councils to put in place vital new schemes so those at risk will have the support to secure their own tenancy.

“It is just one part of the wide-ranging work we are doing to help tackle all forms of homelessness, including our Rough Sleeping Strategy as we ensure more homes are made available for those in need,” he added.

 

 

 

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Credit Suisse backs Candy brother’s £80m mortgage on London apartment

One of the UK’s biggest recorded mortgages has been taken out on a penthouse apartment in Knightsbridge.

Close