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Home Improvement Loans

If you are a homeowner and need repairs carried out to your home or need disabled adaptations but not eligible for a Disabled Facilities Grant you may be eligible for a home improvement loan. The loans are intended to assist the elderly or people on low income who would have difficulty in securing a loan from high street banks. There is no test of financial resources but the Council will need to be satisfied that there is sufficient equity remaining in your home for the loan and any interest to be repaid. The loan will be secured as a legal charge on your property. It does not have to be repaid until the property is sold but can be repaid earlier by instalments or lump sums if you wish. The loan attracts simple interest at a rate of 4% above the bank base rate and this is capped for the life of the loan. For those over 75 years of age the loan is interest free for the first 5-years. The type of work for which a loan may be given include: roof repairs, subsidence, dampness, replacement doors and windows, rewiring, new guttering, plumbing, kitchen refurbishment, better home security, improving energy efficiency and disabled adaptations.

As part of the service a Home Improvement Advisor will visit your home to help you produce a schedule of work, advise you on builders and inspect the work on completion. The loan is normally paid direct to the contractor and satisfactory completion of work. The amount of loan is limited to a maximum of £25,000.

We regret that a loan cannot be paid for work, which has started or completed prior to loan approval.