Nationwide has announced a new partnership with the Citizens Advice, which will result in 1,300 volunteer finance advisors being trained during the next three years.
The building society is to invest £3 million in the scheme, which will enable the staff to provide advice on financial issues such as bankruptcy and debt to local people through the use of community centres and groups across the UK.
According to the charity, the scheme has been established to help consumers understand the wide range of financial products on offer, in order to prevent them from falling into financial difficulties.
“Debt problems continue to be the number one issue seen in [the] bureaux,” chief executive of Citizens Advice David Harker explained.
“This is a unique and extremely ambitious project which delivers on our commitment to do more to help people avoid getting into financial crisis,” he added.
Property expert Aaron Turner has stated the country’s middle classes are at increasing risk of having their homes repossessed due to the fact that they are struggling to meet mortgage repayments
By Tom Musk