UK Bill Help

Southend-on-Sea residents who are struggling to come up with the required funds may find assistance from the local council. This underutilised tool can be the most helpful form of aid that a prospective tenant can have to gain access to a new home.

Rent Deposit Scheme

Southend-on-Sea Borough Council lends money to local residents who cannot come up with the necessary funds to move into a new rental home. Those who might otherwise face homelessness or move into a substandard home now have the means to gain access to these funds.

Residents may borrow enough to cover the first month’s payment and the rent deposit. Even admin fees can be included in the loan amount. There is zero interest on the loan, and repayment can cover up to three years.

Simply put, there is not a better lending option on the planet than this scheme. It allows a new tenant to keep cash in savings in case of emergencies rather than draining the bank account and risk falling short on bills or other debts. It also helps people move into a new rental property when they lack the savings to pay the full charges upfront.

Compare

Compare

Compare a £150 loan	Southend-on-Sea loan	Leading Payday Lender
Interest Rate	0% APR	5,853% APR
Repayment Term	3 years	18 days
First Payment	£4.17	£183.49

Some residents go to a high street lender to borrow money for a quick rent deposit and first month’s rent. The costs are staggering and can lead to financial ruin very quickly.

Those who turn to Council can get the money they need along with the flexibility to repay the loan over an extended period of time. Zero interest means that there is no penalty to stretching out repayment to a full three years.

When comparing the costs, it is obvious that someone would be a fool to apply for a high street payday loan rather than to participate in the rent deposit scheme. Yet tenants fail to take advantage of this amazing opportunity everyday.

While our example shows the difference in costs for borrowing just £150, imaging how much would be owed for a loan of ten times that amount. Some applicants actually obtain multiple payday loan products when they could have just obtained the single interest free loan through Southend-on-Sea Borough Council.

How to apply

The Rent Deposit Scheme is intended to assist established residents of Southend-on-Sea who are either at risk of homelessness or already homeless. Aid is provided to people who are in a difficult situation through no fault of their own, such as a job loss, injury or death of a breadwinner.

Potential applicants will need to first contact the Housing Options Team. Enquiries may be made by telephone at 01702 215002. An appointment is necessary for visits to the Civic Centre offices on Victoria Avenue.

A team member will request initial information to establish the level of need. They will also provide a list of documentation that will need to be provided at the time of the appointment. This will ensure that aid is provided to those who really need it.