Homebuyers choosing Hinckley & Rugby’s new Charity Assist Mortgage will be helping homeless people move into a home and full-time work.
The Building Society is partnering with homelessness charity Emmaus Leicestershire & Rutland, donating £250 for every Charity Assist Mortgage 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 Leicestershire & Rutland 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. Some stay for a few months, others for longer.
The Charity Assist Mortgage has been created for homebuyers who want a competitive fixed rate product delivered with the personal service of a regional building society whilst also helping others who are facing the challenges of homelessness.
The low-fee mortgage at up to 90 per cent Loan to Value (LTV) 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 Hinckley & Rugby’s mortgage department, was one of the team which developed the new Charity Assist Mortgage. Michelle 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 & 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 & Rutland, said:
“We are really pleased that Hinckley & 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 & 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.”