Salix Homes supports ethical alternative to weekly payment stores
Published by James Allan for Salix Homes in Housing and also in Bill Payments, Care and Support
A social housing provider is backing a new initiative to help its tenants beat expensive hire purchase shops.
Salford-based Salix Homes, which manages 8,500 homes across Central Salford, is one of the first housing providers in Greater Manchester to sign up to support a new scheme – The Smarterbuys Store.
The scheme offers an affordable and ethical way for social housing tenants to buy things for their homes with payments up to 40 per cent cheaper than other weekly payment stores.
The Smarterbuys Store gives social housing tenants an alternative to doorstep lenders, loansharks and expensive weekly payment stores and tenants will be able to buy essential items such as televisions, furniture and white goods and pay for them with affordable weekly payments.
The scheme also encourages tenants to save and helps them build a healthy credit rating by transferring at least 25p per week into a savings account set up especially for the tenant as part of the ‘save as you buy’ initiative. At the end of the payment term, the customer can either take the cash back or continue to save with the local Salford Credit Union.
Helen Thorpe, customer support manager at Salix Homes, said: “As we know times are hard for our tenants and buying goods or borrowing from less affordable sources puts them more at risk of financial hardship. The Smarterbuys Store aims to give our tenants another option to access the same quality products but at much more affordable payments and from a source they can trust.
“By providing the opportunity to save we are also helping them plan for the future, as well as helping them build a healthy credit history.”
Social housing tenants can buy items from the website www.sbstore.org.uk where they can set up their affordable weekly payments.