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Leaving Care Bond Scheme
To develop a small pilot bond scheme with an accommodation provider in Liverpool for young people leaving care.
Currently young people leaving care, who are excluded from the Property Pool, are having great difficulty accessing private tenancies as they do not have a guarantor, or a deposit, and they cannot afford a double deposit (as they have no guarantor).
The young people are then reliant on frontline workers applying for charitable awards in order to access independent accommodation or they have to access hostel accommodation which is often completely unsuitable.
The aim is to develop a small pilot bond scheme with an accommodation provider in Liverpool for young people leaving care.
Referrals would be made by the Liverpool leaving care team and discussed at our weekly drop-in service at the leaving care team office in Toxteth annexe Liverpool.
Preliminary discussions have been held with two estate management companies who are open to exploring the idea further.
Key elements of the scheme:
- working capital for the bond
- robust referral criteria
- project risk assessment
The bond scheme would be part of a wider project being developed at the moment to replace the current "for profit" accommodation service in Liverpool with a not-for-profit project.