Sovereign Housing Association has pledged an additional £3million in funding to support its customers most impacted by the cost-of-living crisis.
The fund will provide more targeted support for its most vulnerable customers. Eligible residents will benefit from a range of financial, employment and debt-related advice services.
Access to the support will be data driven, with the association contacting customers to help it identify who will benefit the most from this support.
The fund is made up of:
An in-house money and debt advice service to help customers manage their finances and sustain their tenancy – with home visits available to those that may struggle to get online.
Money coaches to provide customers with a commissioned service which will improve their understanding of budgeting and attitudes towards money.
Mental health and money support for individuals suffering with mental health conditions, where it becomes apparent that their mental health is having a knock-on-impact on their finances and ability to budget.
Tenancy support to be expanded to customers living in shared ownership homes. Previously this support was only available to those living in social rented accommodation.
In-work coaches to help its customers in work find better paid work through dedicated one-to-one support.
The association also has plans to increase its digital training offer through the new support fund. Sovereign will be providing more one-to-one digital training and tutoring sessions to help residents develop their skills and feel more confident about getting online. Access to energy vouchers and white goods will be expanded, while there is availability.
More customers are set to benefit from its continued partnership with the telephone triage service Pocket Power. With greater funding now behind it, customers will be able to access the service which helps to identify better deals on a whole host of household and utility bills.
Andrew Cooper, Head of Partnerships and Funding at Sovereign said: “With the ongoing cost-of-living crisis, we want to ensure that our most vulnerable customers get the support they need to live well and sustain their tenancy.
“As with everything we do, we must carefully balance the cost of providing this additional support against the funding needed to invest in our customers’ homes.
“I’m pleased that we’re able to go further, by offering this targeted support and continuing to invest in our services.”
Several services within the new Customer Support Fund are live, and all remaining services are set to take effect from Q4 this year. This support will be in place until 2024.
For more information about the support available to customers please visit: https://www.sovereign.org.uk/cost-of-living-support
As one of the country’s largest housing associations, Sovereign manages over 61,000 homes and aims to build around 2,000 new homes every year. As part of a five-year strategy, Sovereign has trebled investment in community work, stepped up its development programme with a greater emphasis on major land-led schemes and focused on providing sustainable, affordable homes for nearly 140,000 customers and residents.