New scheme launched in West Midlands to break cycle of homelessness

HSBC UK and homeless charity Shelter have teamed up to launch a new scheme to break the cycle of homelessness.

It's estimated that over 20,000 people in the West Midlands are sleeping rough or in temporary accommodation.

The pilot project is expected to reach over 3,000 people who are at risk of homelessness.

They will deliver housing advice, foodbanks and debt advice services to help people struggling.

It will be ran by volunteers from HSBC and Shelter.

Through the partnership, both companies believe it is down to the cost-of-living crisis that many people are ending up on the streets.

Ian Stuart, CEO of HSBC UK said: “Our No Fixed Address service has been an important tool in breaking the vicious circle of homelessness, helping people access the financial services they need. But we know that if we’re to make an even bigger impact people need access to support before they get into severe issues with paying their rent or mortgage.

“Early intervention is critical; the faster we can be alerted to an issue the more can be done to help. Among our own customers we’ve seen this approach work, with 20% uplift in customers bringing their accounts back up to date in key areas such as mortgages when we work with them early enough.

“I’m really proud to launch this key partnership between HSBC UK and Shelter. Together, we will help more people access guidance and meaningful support - building greater resilience for some of the UK’s most vulnerable people, and better financial health for the UK.”