Not-for-profit lettings agency will help ease ‘chronic lack’ of affordable homes

A not-for-profit lettings agency will be rolled out as part of an initiative to help tackle affordable homes shortages.

Lloyds Banking Group and homelessness charity Crisis have joined forces in a new two-year partnership.

Lloyds said fundraising will support Crisis to develop and launch a new not-for-profit lettings agency.

To do this, Crisis will partner with and draw on the successes of Scotland-based social enterprise lettings agency Homes for Good, to help make renting easier and more affordable.

Homes For Good was founded in 2013 to improve conditions in the private rented sector for tenants and landlords and to support people on low incomes to access quality homes in the private rental sector.

The new agency will aim to match and support both tenants and landlords and avoid poor and exclusionary practices.

For example, people who are homeless will not be asked to provide rent in advance, will not need to meet strict reference requirements, and will not need to provide guarantors. Profits from the agency will be reinvested into supporting people experiencing homelessness to find good quality, affordable homes.

The lettings agency will start operating in London later this year with the ambition to roll it out across Britain, Lloyds said.

As part of the new two-year partnership, Lloyds and Crisis are also calling for one million new social homes to be built in the next decade.

Lloyds Banking Group said it has provided nearly £15 billion in financing to the social housing sector since 2018, supporting more than 200 housing associations across the UK.

Charlie Nunn, chief executive at Lloyds Banking Group, said: “A good home is a fundamental human need, and yet the reality 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.”

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.

“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.”