A Surrey-based housing association is offering a financial lifeline to residents struggling to make ends meet during the current cost of living crisis.

Mount Green Housing Association, based in Leatherhead and with 1,600 homes across Surrey and North Sussex, has set up two dedicated funding pots to support residents faced with financial hardship.

The housing provider has launched the Breathing Space Fund for tenants and the Shared Owners Support Fund for people who part-own, part-rent their homes.

The funds will be available to residents who have exhausted all other options and, without Mount Green’s help, would fall into arrears or their existing arrears would get significantly worse.

Grants, made on a case-by-case basis, can pay a resident’s rent for up to two months and are paid into their rent account. In exceptional circumstances, grants can pay for goods or services.

Tenants receiving full housing benefit or shared owners not in rent arrears, but still in financial hardship, may be considered for a one-off payment of up to £300 instead of a payment to their rent account.

Mount Green is offering the funds as part of its wider support for residents, which includes a welfare benefit officer who provides information and advice relating to budgeting, benefits and other sources of funding.

Sarah Crabb, Mount Green’s assistant director of housing services, said: “At Mount Green, we appreciate that providing a home is just the start and believe that our core purpose is creating the foundations for our residents to thrive.

“But the current cost of living crisis – with its spiralling energy, grocery and other bills – is impacting so many people and potentially causing them serious financial hardship.

“We have launched these two funding pots because we want to do all we can to help our residents and we want them to know that we are here when needed during these difficult times.”