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The Change project is helping local people get their finances on track by offering affordable loans, help with banking and money advice.
It is a partnership of twelve housing associations, led by London & Quadrant Housing Trust. They are giving help to people who may be struggling with debt, unable to get affordable loans or who do not have even a basic bank account.
Change has given hundreds of residents help with budgeting, welfare benefits, paying bills, getting a bank account arranged or setting up Direct Debits.
The latest initiative has been to offer small affordable loans to residents whose only alternative is to borrow from loan sharks or doorstep lenders at extortionate interest rates.
Mpeti Botundu was struggling to make ends meet after being caught out by the small print when he accepted a loan from a doorstep lender. Unemployed Mr Botundu, who has two sons aged nine and six, couldn’t keep up the repayments and feared the worst.
“The interest was very high and I got into a lot of financial trouble. I was getting really worried so when I heard about the Change project I decided to apply for a loan. Once I had sent off the application form everything happened so quickly and the team explained everything to me very clearly.”
The partnership housing associations are L&Q, Circle Anglia, East Thames, FamilyMosiac, Gallions, Genesis, Horizon, Hyde, Metropolitan Housing Trust, Orbit, Threshold and Wandle.
For more information on Change call 020 8535 2960.
