Financial Inclusion and Homelessness Prevention


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Sharon Wheeler, DWP Strategic Financial Inclusion Housing Champion

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  • Financial Inclusion and Homelessness Prevention

    1. 1. Sharon Wheeler DWP Strategic Financial Inclusion Housing Champion Financial Inclusion and Homelessness Prevention
    2. 2. <ul><li>Overview of Presentation </li></ul><ul><li>Link between Homelessness and Financial exclusion. </li></ul><ul><li>Embedding Financial inclusion in homelessness prevention. </li></ul><ul><li>Financial inclusion and Homeless Strategy </li></ul>
    3. 3. <ul><li>Main reasons for Homelessness Presentation </li></ul><ul><li>Relative/ Friends unwilling/unable to accommodate </li></ul><ul><li>Relationship Breakdown </li></ul><ul><li>Rent and Mortgage Arrears </li></ul><ul><li>End of AST </li></ul><ul><li>What is the link between financial inclusion and homelessness? </li></ul>
    4. 4. End of Tenancy 90% of respondents in England and Wales are struggling with household finances. 60% of tenants in receipt of HB or LHA receive less in payments than the cost of their rent. 25% of respondents making up a difference of more than £49 per week. 23% of Private sector landlords expected to evict tenants due to rent arrears. Shelter Private Rented Sector Research
    5. 5. Mortgage repossessions Council of Mortgage Lenders figures show decrease mortgage possession in 2010, CML felt decrease was due support mechanisms such as debt advice provision, mortgage rescue scheme and changes to mortgage interest Payment. Shelter Research also found that 1 million households have used credit cards to pay their mortgage or rent in the last 12 months. Domestic Violence 13% of those threatened with homelessness were experiencing domestic violence. 89% of respondents to a Refuge survey said that economic abuse was a feature of their experience of domestic violence.
    6. 6. <ul><li>Embed Financial inclusion into Homeless Prevention. </li></ul><ul><li>Does enquirer have underlying debt/ money issues that might be </li></ul><ul><li>contributing to current threatened homelessness or might prevent </li></ul><ul><li>household long-term sustainment of new or current tenancy? </li></ul><ul><li>Consider other financial problems that may threaten the tenancy/ </li></ul><ul><li>accommodation. </li></ul><ul><li>Affordability of household/ utility bills </li></ul><ul><li>Lack of money for furniture or other essential items. </li></ul><ul><li>Not claiming full benefit entitlement </li></ul><ul><li>Lack of money management skills </li></ul>
    7. 7. <ul><li>Equip frontline staff to identify issues and make early </li></ul><ul><li>active referrals. </li></ul><ul><li>Ensure partnership/ referral mechanisms are in place. </li></ul><ul><li>Energy/ utility advice </li></ul><ul><li>Welfare rights, benefit maximisation. </li></ul><ul><li>Debt advice to tackle multiple consumer debt: credit cards, doorstep loans. </li></ul><ul><li>Illegal money lender team for victims of </li></ul><ul><li>loan sharks. </li></ul><ul><li>Referral to Credit Union/CDFI for affordable loans </li></ul><ul><li>for emergencies </li></ul>
    8. 8. <ul><li>Temporary Accommodation/ Private Rented </li></ul><ul><li>Offer financial “health check”. </li></ul><ul><li>Assistance with furniture –referral to credit union/ CDFI for instant loan, furniture schemes. </li></ul><ul><li>Assistance with utilities provider. </li></ul><ul><li>Ensure financial capability part of ongoing floating support for vulnerable tenants. </li></ul>
    9. 9. <ul><li>Work with Private Landlords </li></ul><ul><li>Promote benefits of PRS landlord taking on “information provider” and “signposter” re financial inclusion. </li></ul><ul><li>Encourage PRS landlords to develop partnerships with Credit Unions re payment of LHA. </li></ul>
    10. 10. <ul><li>Choice Based Lettings </li></ul><ul><li>Use information gathered through registration process to highlight </li></ul><ul><li>potential financial vulnerabilities and offer referral to support/ advice </li></ul><ul><li>services. </li></ul><ul><li>Offer affordability information for properties- rent, CT, average utilities, </li></ul><ul><li>home contents insurance. </li></ul><ul><li>Use site to encourage prospective tenants to plan for move eg saving </li></ul><ul><li>with Credit Union. </li></ul>
    11. 11. <ul><li>Financial Inclusion and Homelessness Strategy </li></ul><ul><li>How does financial inclusion fit into homeless strategy? </li></ul><ul><li>What information do you gather on how indebtedness/ money problems </li></ul><ul><li>impacts on individuals/ households ability to sustain accommodation? </li></ul><ul><li>How linked in are local homelessness agencies to wider financial </li></ul><ul><li>inclusion services? </li></ul>
    12. 12. <ul><li>Any Questions? </li></ul><ul><li>Online resource/discussion forums for housing providers </li></ul><ul><li>working on financial inclusion. </li></ul><ul><li>Email to register. </li></ul><ul><li>[email_address] </li></ul>