Interest free Home Improvement Loans are now available at the discretion of the Council to contribute to ensuring that homes are safe, warm and secure.
- Loans are available to owner occupiers, landlords, tenants (with a repairs obligation), developers and charities / third sector.
- The applicant must be able to afford the loan repayments and undertake an affordability check in order to ensure they can meet loan repayments.
- Works undertaken with a loan must contribute to making the property warm, safe or secured
- Loans available from £1000 to £25,000 per "habitable unit" (house/flat) up to a maximum of £150,000 per applicant (6 units or more).
- Any loan offered taking into account existing mortgage/loan cannot exceed 80% of the current property value.
- The maximum repayment period will be ten years for an owner-occupier, five years for a private sector landlord.
- Repayments will be made monthly via Direct Debit; minimum repayments are:
- Owner Occupiers - £50/month
- Landlords - £100/month
A one-off administration fee will apply that may be paid over the term of the loan or paid up front; this will be decided by the applicant.
- For loans taken over up to 3 years, the fee will be 10%
- For loans taken over 4 - 10 years, the fee will be 15%
All approved loans are subject to a number of conditions to ensure that the loan fund monies are "recycled" to assist in provision of further Home Improvement Loans.
For more information on Home Improvement Loans see the guidance, and if you are interested in applying please complete and return the expression of interest form.
For more information or to apply please contact either:
Mr Philip Jackson
Tel: 01437 775635
Mrs Dawn Riddiford
Tel: 01437 775649