Lloyds Bank slams landlords as it creates new lettings agency

Lloyds Bank says that because landlords offer ‘poor and exclusionary practices’, they are teaming up with the homeless charity Crisis to start a new lettings agency.

It says the new venture ‘will be fair for tenants and fair for landlords’.

The bank says that homeless people won’t be asked to provide rent in advance, and they won’t need to meet strict reference requirements.

‘Chronic lack of affordable housing’

Charlie Nunn, Lloyds Banking Group’s chief executive, 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 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.”

‘First GB-wide not-for-profit lettings agency’

The lettings agency will start later this year in London with the ambition to roll it out across Great Britain – making it the first GB-wide not-for-profit lettings agency.

It will draw on the successful record of the award-winning Homes for Good, Scotland’s first social enterprise lettings agency.

The aim is to deliver one million new social homes that will be built over the next 10 years.

Households on low incomes that are living with poor conditions

The new two-year partnership comes as Crisis reveals there are nearly two million households on low incomes that are living with poor conditions such as mould, damp and overcrowding.

It says that those on low incomes are also experiencing rapidly rising rents and increasing cost of living pressures.

And it has data that shows 2.5 million households worry they will either be forced into poor living conditions or will have to remain in already substandard homes.

The report also highlights that more than 200,000 families and individuals who tried to move last year were forced to accept a property that was unsuitable or in poor condition.

‘Shortage of good quality, affordable housing’

The chief executive at Crisis, Matt Downie, 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.”

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