CREDIT UNION

Bond Saving Scheme

Bridgend Lifesavers Credit Union has developed a strong working partnership with The Wallich in order to help tenants to secure a home.

Who are the Wallich?

The Wallich are a Welsh homelessness charity working to find lasting solutions to homelessness. They have 14 projects across Wales, including Bridgend. For more information about the valuable work they provide within the community, please visit their website: www.thewallich.com

What is the Wallich Bond Board project?

The Wallich Bond Board project assists people on a low income to find private, rented accommodation. Private landlords often demand a large deposit or ‘bond' and without this lump sum of money, it can be difficult to find somewhere to live. 

If a tenant is eligible, the Wallich Bond Board can issue a two year bond certificate to cover the cost of a deposit on a rented flat or house.  The bond certificate will remain in place for a period of two years.  This bond certificate guarantees payments to landlords if the tenancy ends prematurely or if repairs are needed once the tenant has left the property (within the 2 year period).

A bond certificate will be issued to all eligible tenants on the understanding that they save towards the bond over a two year period. This is then transferred over to the landlord who will hold this bond as a deposit for the remaining term of the tenancy. 

Who is eligible to apply for a bond with the Wallich?

To check eligibility please contact the Wallich Bond Board on 01656 654442. 

Benefits of the Bond Savings Scheme

- Supports tenants in the move and resettlement process

- Promote positive relationships with local landlords

Your Savings are protected up to £85,000 by the financial services compensation scheme (FSCS) For more information please click on the image.