Greater Victoria Homes Security and Rent Financial Program

Greater Victoria Homes Security and Rent Financial Program

Here to work with you

What’s the better Victoria houses safety and Rent lender system?

a roentgen ent B ank supplies financial help in the form of a no-interest repayable financing, to families in danger of eviction for explanations such as for instance non-payment of rent or tools. The borrowed funds can also be used as a damage deposit and/or very first period’s book to go to as well as renewable property

*Service providers: please reproduce off the one page document to put on during your business.

Please be aware: *Grant Funds commonly offered by this time

Services

The Greater Victoria property Security and Rent Bank system helps individuals and folks exactly who see qualification requisite and just who may be in danger of eviction or essential electric disconnection because of a temporary scarcity of resources.

*Exceptions are produced in some circumstances if other eligibility requirements include met.

Low-income is described as follows:

Required Documentation

Two pieces of government-issued recognition (one with a photograph)

Proof Tenancy or Intent to book (ex: home Tenancy contract, rental arrangement, and other leasing arrangement)

Eviction see or electric see of Disconnection (if applicable)

3 months of ALL banking account and bank card comments check my site (including comments of most personal debt)

Evidence of earnings

Please Note: BC lease Bank and the society public preparing Council will use your own personal information mainly for assessment and government reasons in accordance with the tips in the BC book lender Privacy Statement.

Program Info

How exactly to implement

You’ll be able to make an application for the more Victoria property protection and Rent Bank plan by doing the Pre-Assessment kind and distributing the required papers .

Software Process

Step One: PRE-ASSESSMENT TYPE

The Pre-Assessment type should be finished and submitted on line . The shape s might be evaluated in purchase they truly are received. If you don’t have e-mail accessibility, please cellphone and discuss further choice.

* posting a Pre-Assessment does not promise you’ll receive financial help.

Step 2: LOAN APPLICATION

After we need reviewed the first info, we’re going to go over after that steps*. This dialogue may include asking to accomplish a phone interview and to offer additional paperwork.

* Speaking with both you and examining your circumstances cannot assure you’ll receive financial help.

3: FOLLOW-UP

The more Victoria homes protection and lease lender plan C ase M anager will observe up with that go over your application. If required, we would require more info. The actual situation Manager may request permission to get hold of the property manager, boss, power professional, and/or virtually any service provider.

Step 4: LOAN DECISION

Our very own financing Analysis Committee will review done programs. Loans include recommended using the likelihood of acquiring homes, the applicant’s monetary balance, readily available mortgage resources, therefore the applicant’s power to payback the loan. The higher Victoria casing Security and Rent financial system situation Manager will alert you of the Committee’s choice.

In the event that loan has-been approved, your situation supervisor will organize a meeting utilizing the candidate to complete the borrowed funds /grant affirmation papers , such as the loan payment strategy.

Note: homes safety funds tend to be authorized using the chances of getting homes, the applicant’s economic balance, and available give funds. *

In the event that loan was authorized, the actual situation management will setup a meeting with you to perform the loan acceptance paperwork, including the mortgage repayment program.

Contact Details

For organizations or providers pursuing details, be sure to communications Ben Finkelberg or Lauren Davis, the more Victoria property safety and book Bank Program instance supervisors at:

NOTE: Due to COVID-19, the CSPC staff members are operating from another location. If you wish to meet in-person, be sure to name forward to ensure the option of a Greater Victoria houses safety and lease Bank Program staff person to see so we can stick to best personal distancing information.

Faq’s (FAQ’s)

The objective of the book Bank loan and/ or Housing Grant is assist reasonable – to moderate-income people a letter d families in sustaining safe and lasting casing . Resources are provided to aid with:

Yes, there clearly was an optimum. The absolute most a single person can ask is $1,500 , and t the guy maximum measure children can ask is $2,000 .

A maximum of $500.00 might be borrowed for vital electricity arrears (to not ever exceed the most quantities observed above if along with book ).

Note: Houses Protection Funds include brief. * The lease financial won’t assure a give quantity until after a loan application is evaluated and approved. Last behavior will be based on recent monthly money, month-to-month expenditures, family members capacity to uphold houses after obtaining grant/loan funds. In excellent issues, a grant and a loan might combined if it’s demonstrated to help stabilize budget and lock in long-term, secure casing.

T the guy better Victoria lease financial cannot promise an answer opportunity due to the highest level of individuals and enquir i parece. However, w e see the necessity with the scenario ; t h erefore, we wi ll create our far better get in touch with your asap. We could possibly manage to give you recommendations to other resources in the meantime. F eel able to contact us if you wish info.

This might be a pastime -free financing , but individuals will likely be fee d a management fee of $1.00/month . The repayment term of a loan is determined by the total amount loaned in addition to borrower’s power to payback. The most payment phrase was a couple of years (24 months) , and repayment can begin at the most six months following financing contract try s igned .

*On a 2-year phase .

Regular re payments tend to be instantly withdrawn from your bank-account or social assistance cheque.

There is no payment requirement of approved onetime casing funds. *

Yes. The meeting techniques is very detailed; we’ll query detailed questions relating to past, existing, and potential purchasing, budgeting (past/current), and future earnings streams. The method can seem unpleasant; however, the target is to determine whether the applicant touches this program requirements.

*Due to COVID-19, we inspire all interview becoming done virtually. If you fail to have access to a computer or phone , kindly communications the more Victoria houses protection and Rent lender staff for additional alternatives.

Cheque s and electric money exchanges is straight generated off to landlords and electricity providers.