Scarborough rent deposit loan scheme

When it comes to paying the rent deposit or move in costs for a new home, the Scarborough Borough Council does offer a no interest loan scheme. It is used to prevent homelessness and the money will pay for private housing only.

Not only will the government authorities provide funds for paying for housing costs, but they also partner with landlord, churches, Yorkshire Coast Homes (YCH) as well as letting agents who accept LHA tenants, residents on a low income or the formerly homeless. These different property owners will offer approved council clients either one to four bedroom homes in the community.

As even if the Scarborough rent deposit loan scheme provides the prospective tenant the financial means to pay for the housing, they still will have other barriers to overcome, such as poor credit or low income. This is why the council will also assist the family or individual on locating a new, affordable home to live in.

The council office, which is at the post below, has a list of places that accept tenants. Most of them have been pre-approved. However the applicant to the deposit scheme still needs to ring the property owners to see if a home is available. The applicant also needs to ensure the property is safe, affordable to them, that it will pass all inspections, and that the tenancy agreement meets all terms and conditions.

Both the landlord and tenants benefit from the scheme. It will of course help a Scarborough residents that is threatened by homelessness, and it assists property owners by given them a tenant that will let their home. This means they can improve the income on the property they are letting out.

The new flat or home selected needs to be affordable. This is important as the loan needs to be repaid to the council over 12 months. While there will not be interest charged to the tenant, they still need to agree to a payment plan and pay down the balance on the loan over time, in monthly installments. In addition, the funds are only for private rented accommodation in Scarborough.

In order to help ensure the loan will be repaid, the authorities do a financial assessment to ensure the family does not have too much debt. Another criteria is the person seeking a loan needs to be homeless (but now have an income) or threatened with homelessness, as the deposit scheme will help them move if they are close to an eviction. Different situations can be covered by the council.

Additional housing schemes in Scarborough

In addition to the deposit scheme, the Scarborough Council also offers the discretionary housing payment (DHS) programme. This is a national scheme for families on local housing allowance, and it pays the difference between the rent the landlord needs as well and how much the LHA benefit is. It is a portion form of financial assistance. The agency also offers linkage to loan programs to pay rent arrears.

In fact, DHP is what the council uses as the funds for the loan. The Scarborough depends on DHP providing enough of a allotment to cover the deposit scheme. If it does not have enough money, or if the funds run out, then some council funds may be used where ineligible. The authorities generally depend on the national welfare scheme for this money.

No matter which scheme a family is applying too (DHP or deposit loans) the applicant needs to be able to demonstrate that they can manage finances to sustain a tenancy. So they need to have enough income (or benefits) to pay for energy costs, food, future rent, and other bills. In other words, the client needs to be able to live independently. Partners such as Yorkshire Coast Homes will enforce this.

The post for this council centre is at Town Hall, St Nicholas Street, Scarborough, North Yorkshire. YO11 2HG. Ring them at 01723 232323 for information on the deposit loan scheme or other aid.