National Housing Federation: New guide to help tenants manage their finances

National Housing Federation logo for press releases

Wednesday, 20, Feb 2008 12:00

The National Housing Federation is aiming to create a network of 'financial inclusion champions' in the social housing sector, with the launch of a new guide to help housing workers to address the needs of tenants who have difficulty managing their finances.

A Guide to Financial Capability will be launched at the Federation's annual financial inclusion conference in London today (Wednesday 20 February), by the Department for Work and Pensions' Financial Inclusion Minister James Plaskitt.

The free guide has been designed by the Federation for use by frontline staff in housing associations, local authority housing departments and arms-length management organisations.

It highlights the excellent work already being done by many social landlords to empower tenants to be confident in managing their money and in choosing the right financial products. This ranges from advice on accessing benefits to the provision of low interest loans and basic banking services.

The guide calls on every social housing provider to have its own financial inclusion champion, so that the best practice becomes widespread throughout the sector.

At the launch, Mr Plaskitt will say: "Many people on low incomes don't know where to get free money advice or affordable credit and can get into serious financial problems. They can often feel there is no option but to use high cost doorstep lenders or even worse, loan sharks, to make ends meet, ending up deeper in debt.

"I believe that housing associations have a valuable role to play in getting the message across that there is help available as they come into daily contact with the people we are trying to reach.

"The National Housing Federation are working closely with our 'now let's talk money' campaign and their continued support will make a real difference to people's lives."

Federation chief executive David Orr will add: "We have seen some real innovation on financial inclusion in the housing sector. Throughout the country, housing providers are offering financial services and impartial advice to their tenants. And through partnership working and investment, they are also providing much-needed support to community financial institutions such as credit unions - helping tenants to access low interest loans.

"Often, these services have come about because one member of staff is passionate about helping tenants to manage their finances. I want to see this approach shared by the entire social housing sector."

For further information contact:

Paul Rees, 020 7067 1026 / 07974 826587, paulrees@housing.org.uk

Joe Dumont, 020 7067 1028 / 07990 638946, josephd@housing.org.uk

The National Housing Federation represents 1300 independent, not-for-profit housing associations in England. Together, our members provide 2 million affordable homes for around 5 million people. www.housing.org.uk

The 'now let's talk money' campaign is helping financially excluded people to access face-to-face money advice, affordable credit and loans and bank accounts, including credit union accounts. The campaign is being funded by the Treasury and delivered by the Department for Work and Pensions (DWP). Callers can find out about the help and support on offer by using the free phone service: 0800 012 1656.

Paul Rees

Assistant Director - Campaigns and Communications

National Housing Federation

DD: 020 7067 1026

F: 020 7067 1018

M: 07974 826587

W: http://www.housing.org.uk