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 Low cost repair loans for low-income people

 

Monday, July 11, 2005


Homeowners on low incomes are to be offered low interest loans to help pay for house repairs under a new scheme launched by Bath & North East Somerset Council.

The repair work which can be funded is anything that ensures the property meets the government’s decent homes standard. This means basic repairs, where elements of the property have failed, good examples are, repair or renewal of the roof, windows, electrics, kitchen, bathroom and damp course.

Home owners on low incomes can apply for the loans which the Council is providing in conjunction with the Wessex Reinvestment Trust - a not for profit community finance organisation - at a fixed interest rate of 3%.

Mike Chedzoy, Senior Environmental Health Officer, said: "The loans are intended to provide working people and pensioners with help, these may be people who have not previously been offered assistance by Bath & North East Somerset Council."

"People eligible for these loans include working people, single people, older people, all on a lower income, as well as disabled people on benefit."

A spokesman said the 3% loans would help people who have not previously been offered assistance by the council. Bath & North East Somerset Council subsidises the cost of the loan and re-payments are re-cycled to provide more community funding.

 
 
     
     
 

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