Individuals that are on a low income in Breckland can apply to the council rent deposit loan scheme. This assistance is for families that are struggling and that need the funds to move into a new, affordable flat or home in the private sector. The scheme will also allow someone that is currently homeless, but that is gaining stability, to pay the deposit so they can get off the streets.
Based on above, the deposit scheme will help individuals faced with either of those two conditions as the aim is to really prevent homelessness. However, the Breckland Council will not only issue the funds in the form of a loan for those housing costs, but ongoing advice is also given to the tenant once they move into their new home. This will help the individual sustain their tenancy agreement over time.
The Rent Deposit Loan Scheme is for people in priority need as well as the vulnerable. In most cases, funds are issued to the low income that have an emergency. Other loans may be provided to the disabled, ex-offenders and senior citizen. The applicant will need to be over the age of 18 and either local to Norfolk or Breckland, or they need to be in the process of moving to the district.
The housing team at the council also help the prospective tenant locate a home in the private sector market. They have information on landlords that have participated in the scheme and that will let out an affordable home. This will often help the resident of the district get settled in a shorter period of time. The bottom line is that the residents needs to be realistic about the home they want to rent. It needs to be affordable and also safe to live in.
Applicants to the Breckland Council scheme can’t have funds to pay a deposit and/or the rent in advance on their own. So this means they can’t have savings or a high enough income to pay this expense on their own.
When seeking help with the deposit, a financial assessment will need to take place. This will review the applicant’s income and a review of the bills they pay on a monthly basis. This is done in partnership with the council as well as the Norfolk Credit Union, which has a centre in Breckland.
After applying, if they are found eligible, then the council will make low interest loans to pay for at most one month’s rent in advance. Or if needed, the scheme can also pay for the security deposit that may be due from the landlord, as long as it is less than one month of expense.
If found to be eligible, the Housing Advice Officer will set up additional appointments. They will review local housing options for the residents. The council will also need to review the tenancy agreement first to ensure the home is affordable. In some cases, they may also inspect the property. So the process put into place by the housing team is extensive.
The last step is the Credit Union issuing the funds to the resident and/or landlord. This step will only be done after a repayment plan has been agreed too. While the rate will vary, the money may need to be repaid at between 6 to 7% APR.
For more information, the council is at Elizabeth House, Walpole Loke, Dereham, NR19 1EE, or ring the centre at 01362 656870.
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