£400,000 housing benefit missing

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• 11 Mar

  Almost £400,000 in housing benefit has disappeared after being paid to a property agent.

  A Channel 4 News investigation has revealed that money is believed to have vanished after being paid to London Housing solutions. London Housing Solutions are a firm that specialise in renting homes to welfare claimant and are currently going into administration, reports 24dash. 

  The firm's current and former directors have acknowledged that the money is missing but refuse to accept any responsibility when questioned by Channel 4 News.

  It is reported that the firm owes money to at least 100 landlords and tenant Channel 4 News spoke to said they feared being evicted as a consequence of the money vanishing.

  Local Housing Solutions, a subsidiary of London Housing Solutions, also said they were unaware of the whereabouts of the funds. Last year both firms managed over 700 properties between them around London and the South East.

  The firms offer a connection between landlords and housing benefit tenants, which provides "guaranteed rent" to property owners for three and five-year periods in exchange for management of their dwellings.

  The Channel 4 News investigation found that at least £400,000 in housing benefit given to the companies has not been passed on to the relevant property owners.

  What do you think of this? Tweet us your comments @suppsolutions

  Image source: http://www.sxc.hu/photo/386434

  By Laura Matthews

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