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Lloyds Banking Group partners with Crisis to tackle shortage of affordable homes

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  • 05/05/2023
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Lloyds Banking Group partners with Crisis to tackle shortage of affordable homes
Lloyds Banking Group has teamed up with homelessness charity Crisis in a two-year partnership to “help tackle the shortage of good quality, affordable homes in Great Britain”, which is leaving hundred of thousands in homelessness.

The companies are calling for one million “new genuinely affordable homes” to be built and to be made available to those on the lowest incomes.

It should also focus on supporting those at risk of or who are experiencing homelessness.

The partnership will allow Crisis to launch a “bold response” to the “chronic shortage of affordable homes” by launching its not-for-profit lettings agency in partnership with Homes for Good.

Lloyds Banking Group’s fundraising will support the development and launch of the lettings agency, and it aims to “match and support both tenants and landlords and avoid poor and exclusionary practices”.

For instance, homeless people won’t be asked to provide rent in advance, won’t need to meet strict reference requirements or have to provide guarantors.

The profits will be reinvested into helping people experiencing homelessness secure good quality affordable housing.

It will start operating in London later this year, with the aim to roll it out across Great Britain.

 

Extend into education and employment

Lloyds Banking Group will also support Crisis’ Changing Lives Grants Programme to help those experiencing homelessness “progress into education, employment and to start up small businesses”.

The partnership will also allow Crisis and Simon Community NI to develop and deliver “bespoke training programmes” to businesses and communities across the UK which aim to improve understanding of homeslessness, prevision and spotting signs that people could be at risk of losing their home.

Lloyds Banking Group staff will also support with fundraising, volunteering, and sharing skills and expertise during the partnership.

A recent report from Crisis showed that around 1.8million households are living in poor conditions with issues like damp, mould and overcrowding due to a shortage of affordable homes, rising rents and cost of living crisis.

The report added that around 2.5 million households are concerned that they will be forced into poor living condition or have to stay in substandard homes within the next year.

It continued that around 200,000 families and individuals who tried to move were forced to take a property that was unsuitable or in poor condition. This includes not having a working bathroom and other issues that could impact physical and mental health.

 

‘An immense challenge’

Charlie Nunn, chief executive at Lloyds Banking Group, said: “A good home is a fundamental human need, and yet the reality is that there is a chronic lack of affordable housing in the UK. This means there are too many people trapped in a cycle of temporary accommodation, or living in poor, sometimes dangerous conditions.

“This cannot be right and is why today we are announcing our new partnership with Crisis – calling for one million new social homes to be built by 2033, with the clear focus on helping people who are most at risk of homelessness.”

He added that it was an “immense challenge” but answers could be found through “financial innovation, partnerships and fresh thinking”.

“We are committed to working with Crisis, business and community organisations across UK regions and the government, to end homelessness for good,” Nunn conclude.

 

A mission to end homelessness

Matt Downie, chief executive at Crisis, said: “Our new partnership with Lloyds Banking Group will ensure we can take the bold action that is desperately needed to begin tackling the biggest issue facing the people we support – the chronic shortage of good quality, affordable housing.

He continued: “Our new lettings agency will mean we can help people experiencing homelessness directly into a safe, settled homes, the essential foundation they need to rebuild their lives.”

“We’re delighted to have the support of Lloyds Banking Group and its staff in our mission to end homelessness. The money raised and expertise shared through the partnership will also enable us to continue our vital support for people experiencing homelessness, helping more and more people to leave homelessness behind for good.”

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