A Greenwich youth homelessness prevention scheme has scooped first prize at the London Homelessness Awards 2021.

The Money House, run by the charity MyBnk, targets care leavers and vulnerable young adults about to move into social housing. It teaches young people how to best manage their tenancy and finances and has seen a 64% drop in evictions for users at risk of becoming homeless.

Since 2013, the unique Woolwich-based project has been providing financial education in Greenwich and the surrounding areas.

It is funded by the Berkeley and JP Morgan Chase Foundations and Pimco, and has been so successful that Greenwich Council have now made it a mandatory part of their youth housing pathway.

The project won top prize at the London Homelessness Awards 2021, which is the country’s leading homelessness awards, recognising and highlighting innovative practice in the homelessness sector in the capital.

The win comes with a prize of £30,000 which will be used to bring the project to more young people.

The Money House takes free open referrals for 16-25 year olds to attend the one week course.

It places young people in a simulated living environment, very much like the one they will soon be responsible for. The unique setting is staffed by financial experts and former participants who design and deliver sessions.