t: (01685) 377888 e: info@mtbcu.org.uk

Merthyr Tydfil

BOROUGH CREDIT UNION

Rent Direct

Merthyr Tydfil Borough Credit Union can collect your Local Housing Allowance on your behalf and pay it to your landlord. this will mean that your Local Housing Allowance cannot go astray and is only used for the purpose of paying your rent, avoiding any problems with your landlord.

How does it work?

To use the scheme, you have to become a member of MTBCU, and your landlord also has to agree to take part.

MTBCU acts as an honest broker between the tenant and landlord protecting the rights of both of them.

Once you have become a member, we open an account for you. Your Local Housing Allowance will be paid directly into your account by the Local Authority, and Merthyr Tydfil Credit Union will transfer the money straight on to your landlord. The purpose of this is to prevent you falling into rent arrears.

As landlords pay the cost of the scheme, there is no charge to tenants.

Why is it good for tenants?

Why is it good for landlords?

Limitations of the scheme

Merthyr Tydfil Credit Union will only transfer monies received to pay your rent. If there are not sufficient funds on your account to pay the rent, Merthyr Tydfil Credit Union will not make up any shortfall.

How to join

When you join the scheme, Merthyr Tydfil Credit Union needs an authorisation from you to make transfers to your landlord.

Leaving the scheme

If you no longer wish the Credit Union to pay your rent to the landlord, you must give us 30days notice that you wish to end this arrangement. The Credit Union will tell the landlord of your decision.

 

 


Merthyr Tydfil Borough Credit Union 139 High Street, Merthyr Tydfil, CF47 8DN, 01685 377888
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 213643

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