A poverty charity is said to have sold 63 homes without telling its tenants, to a private company that has started evicting them.
Some of the homes are now up for sale with local agents, and described as good buy-to-let investments.
The allegations are carried in a story in the Guardian.
The Glasspool Trust has been criticised by Labour MP Stella Creasy for selling the homes in her constituency of Walthamstow in east London.
The Glasspool Trust was set up 75 years ago after a bequest from a wealthy businessman.
It told the Guardian that it received assurances from the new owners that no one would be evicted – although purchaser Butterfields E17 denies this.
Creasy – who is currently on a renewed mission to name and shame local estate and letting agents – said that housing is now the most pressing issue on her casework list.
Glasspool said that it helped people out of poverty by giving them direct grants.
It told the Guardian: “In order to be able to provide these grants the trustees realised that they had to sell the charity’s directly held properties to maximise the amount of money the charity could give away.
“It was a difficult decision to take but the trust was not established as a social housing provider.”
The aim of the trust/charity ” Our aim is to provide timely, life-enhancing support to people in need; short-term involvement for long-term impact.” from their website.
I understand historically they have bought properties (as an investment & short term benefit to people in need) but that was not the main aim and can see with the changes in legislation why they would not want to be a social housing provider ! The aim is to give financial help – which is a worthy cause.
It amazes me at the arrogance of the MP that she is jumping up and getting offended AT the estate agents and letting agents who are following their clients instructions whom are probably making a very sound financial judgement on the charity future longevity.
If only MP’s would look to their own house and stop interfering we all would be a lot better.
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What the hell has this got to do with estate agents and letting agents? Is this yet another politician jumping on the band wagon of blaming everything to do with housing on selling and letting agents. Perhaps the Government need to look at Charity ethics! Mind you Government policy could well explain the logic behind this charity’s decision!
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