62 customers increased their financial wellbeing, seeing either an increase in their weekly income through benefits advice or support with applications for one-off grants or debt write offs. The average increase in weekly incomes was £13 per week and the total received in one-off financial payments was £39,000. At a wellbeing proxy value of £8,917 per outcome, this created a social value of £552,854
17 customers who stated at the start of the pilot that they felt burdened by debt felt that this had been alleviated after receiving support from our money advisors to put realistic repayment plans in place. Relief from debt provides a wellbeing value of £9,428 per person so an overall total of £160,276.
Employment and skills: In total, seven customers (9% of those not in work at the start of the pilot) achieved employment outcomes and a further six customers achieved work related skills outcomes through education and/or work related training.
These outcomes carry a total wellbeing proxy value of £113,940. In addition, there is a total social value to society of £119,375 based on the cash savings to the UK Treasury when customers move off or reduce benefits as a result of employment. In total, social value of £233,315 was created.
Positive social networks: The majority of customers (95%) felt they had positive social networks at the start of the pilot but of those who did not, nine customers had developed better social networks in their community. With a wellbeing value of £1,850, this created a total social value of £16,650.
Resilience: measured by a feeling of being in control carries a wellbeing value of £12,470. 15 Starting Well customers moved in a positive direction during the course of the pilot creating a total social value of £187,050.
Leaving well outcomes: overall the service had a significant impact on former customer arrears. Both in terms of the arrears when the customer actually ended their tenancy and where accounts did end with arrears, we were far more successful in engaging with the former customer to clear that debt. We also saw a significant decrease in the number of homes left with avoidable repairs.
While these are significant savings to Bromford, the value to the customer should not be underestimated; leaving well has helped ensure customers are not leaving with rent arrears that will become debts for them to pay. By reducing the number of repairs required, void times are reduced, freeing up social housing for new customers more quickly.
The social value created through the service offer pilots does not account for the increase in cash flow for Bromford achieved through lower arrears levels and the cost savings associated with the reduction in the number of repairs.