Mass-Produced Home Factory To Start Producing “Within Weeks”

The UK’s first mass-produced home factory is expected to fire up production soon, as a financial services firm forges ahead with its plan to reshape the country’s failing housing sector. Ready-to-assemble sections of the cross-laminated timber homes will be delivered like flat-packed Ikea furniture, and prototypes are expected “within weeks”. A source said that the prototypes, produced by insurance and investment group Legal & General, would be for a three-bedroom home and a five-bedroom home. Legal & General announced in February this year that it would open the largest home-building factory in Europe in a bid to shake up the UK housing market, which is characterised by chronic undersupply of homes. Read more on the GCR website.

Council to Partner with Credit Union on Universal Credit

Wandsworth Council has agreed to enter into partnership with a credit union to help its residents cope with Universal Credit.  The flagship Conservative council is exploring the possibility of offering new financial services - including 'jam jar' type accounts - to help people manage their budgets under the new benefits system.  The council believes providing financial support services could help many claimants adjust to the changes – and prevent them turning to loan sharks or payday loan companies should they struggle to adapt to the new system.  Read more on the Wandsworth Council website.

Credit Union in First National Tie-Up

More than 160,000 social tenants are set to be the first to get a financial kick-start following the Government's relaxation of "common bond" geographic credit union rules.  The national housing association Affinity Sutton will offer its residents the opportunity to join Leeds City Credit Union, giving many of them access to basic financial services for the first time. The residents will be offered a range of online and phone-based services, including "jam jar" budgeting accounts, savings and low cost loans. Read more on the Independent website.