The Yorkshire Building Society has launched a new three-year charity partnership with End Youth Homelessness.

End Youth Homelessness (EYH) is a national movement to end homelessness among 16-25 year-olds in the UK.

Through the partnership, the Society aims to raise £750,000 to support over 700 homeless young people into their own rented homes.

By funding rental deposit guarantees and home essentials grants, the partnership will provide practical help to homeless young people across the UK who are ready to live independently.

To support them in their new home, young people will also benefit from dedicated support and financial advice in building the life skills and confidence they need to move on to lead successful and independent lives.

Yorkshire Building Society will take an active role in addressing the challenges faced by homeless young people and help them achieve a brighter future.

Mike Regnier, chief executive of Yorkshire Building Society, said: “We are proud to announce our new partnership with End Youth Homelessness.

“Over the next three years, we aim to break down the barriers that homeless young people face, through deepening understanding of youth homelessness issues, campaigning for social and public policy change as well as directly helping homeless young people live independently.

“This partnership is at the heart of what we do. As an organisation we pride ourselves on helping people become financially secure and achieve everything they can, including having a place to call home.”

End Youth Homelessness was founded in 2010 by End Youth Homelessness member charity Centrepoint, after its patron, Prince William, HRH the Duke of Cambridge, challenged the charity to end youth homelessness.

Nick Connolly, director of End Youth Homelessness, said: “We are delighted to be partnering with Yorkshire Building Society.

“Each year, more than 83,000 young people find themselves in a cycle of repeat homelessness from which it’s incredibly hard to get out. With rental prices at historic highs and the ever-increasing demand for UK rental properties, finding a place to call home is an enormous challenge for a homeless young person.

“As our biggest corporate partner to date, Yorkshire Building Society’s support will have a transformational effect on the young people we work with, enabling them to escape homelessness for good.”

Every year, EYH works directly with over 15,000 vulnerable and homeless young people aged 16-25 across the UK.

Yorkshire Building Society has chosen its partnership with End Youth Homelessness following a thorough selection process that culminated in a vote by Society colleagues and members.