Nationwide 5-year plan to help 750,000 people into a home of their own
Published by Kris for 24dash.com in Housing and also in Finance
Nationwide 5-year plan to create 750,000 new home owners
Nationwide Building Society has launched an initiative to help 750,000 people into a home of their own over the next five years.
Research conducted by Nationwide found that 28% of UK households have no savings. It will now explore how it can support affordable housing and develop new innovative products for the housing market.
With support from a number of charitable partners, which include Shelter and National Numeracy, Nationwide hopes that its 'Your Home, Your Money and Your Community' scheme will also empower a million people to start saving.
It is also launching a new £1 million partnership with Shelter, aimed at helping 16,000 people who are either at risk of losing their homes or vulnerable people with no housing at all.
Graham Beale, Chief Executive at Nationwide, said: “I believe Nationwide is ideally placed to take a lead on tackling the serious issues of housing, money management and communities. Our mutual status enables us to meet the needs of our members, rather than chase short-term profit for shareholders, and that means we can focus on addressing the issues that really matter to our customers, their families and the communities where they live. We look forward to working with our partners and, where possible, with MPs and the Government in our Citizenship activities.”
Campbell Robb, Shelter CEO, said: “It’s good to see a financial services organisation like Nationwide Building Society really putting effort into making a difference to the lives of those in housing need. Shelter is a lifeline for anyone who is homeless or suffering bad housing and we’re proud to join forces with Nationwide to share our ideas and develop creative ways of tackling these difficulties.”
Mike Ellicock, CEO at National Numeracy, said: "We are really pleased that Nationwide is showing its support by helping people learn how to manage their money. Everyone needs to have decent numeracy skills so they can plan their spending and saving wisely, and the backing of Nationwide in our campaign to improve the UK’s numeracy is invaluable.”