Mortgage to help homeless charity has been launched
A BUILDING society in Hinckley has created a charity assist mortgage to help homeless people move into a home and full-time work.
Hinckley and Rugby Building Society has set up the scheme to support Emmaus Leicestershire and Rutland, donating £250 for each of the mortgages that is taken out.
The donations will help Emmaus provide a home and meaningful work in Hinckley for formerly homeless people for as long as they need it.
People helped by Emmaus are referred to as companions and live at Elm Lea in Hinckley, a former hotel where each has their own room and bathroom.
Whilst with Emmaus, companions work in the charity’s shops as they get themselves back on their feet, with some staying for a few months and others for longer.
The low-fee mortgage at up to 90 per cent Loan to Value charges 2.79 per cent interest for the first two years.
It then reverts to a discount mortgage for three years, at a current rate of 4.49 per cent.
The application fee is £199 and there is no completion fee.
Michelle Tong, trainee team leader in the society’s mortgage department, helped develop the mortgage.
She said: “Every day we help our customers achieve their dreams of home ownership.
“Now with this new mortgage, our customers can show their support for people who have struggled to keep a roof over their heads.
“The Emmaus approach of wraparound support – a place to live, meaningful work, a supportive community – is incredibly valuable.
“We hope lots of customers select the new Charity Assist Mortgage, enabling Hinckley and Rugby to make lots of donations to Emmaus so the charity can help more companions to embark on a fresh start with lots of support in a welcoming place to call home.”
Mir Juma, chief executive of Emmaus Leicestershire and Rutland, said: “We are really pleased that Hinckley and Rugby is supporting its local homelessness charity.
“Each £250 donated will contribute to a month’s accommodation, food, clothing, support and training for a formerly homeless person.
“That means every mortgage approved is not just helping a homebuyer but also providing a home for someone in a vulnerable situation.”
Mir and a current Emmaus Leicestershire and Rutland companion, Tony, launched the new mortgage with Michelle.
Tony said: “After a battle with alcohol addiction I left rehab sober but with nowhere to live. If it wasn’t for Emmaus I would probably have ended up on the streets.
“They gave me a roof over my head and a place to feel safe. After four years with Emmaus I’m still doing well.
“I’ve been given the chance to work; I run the La Boutique Emmaus shop in Hinckley – something I never thought I could do.
“It’s a reason to get out of bed in the morning and a reason to feel good about myself. Thanks to Emmaus, I’m feeling positive about my future.”