Healthy Homes Loan
A loan for homeowners to carry out essential home repairs.
Due to high demand we are no longer taking new enquiries for the Healthy Homes Loan. We do not know when it might be available in the future as it is subject to securing further funding.
How much the loan can be worth
Up to £15,000.
What repairs you can get help with
Works must meet one of these four criteria:
- making your home weather-tight, for example roofs, windows, doors and preventing damp
- making your home safe, for example electrics, gas, fire safety and falls prevention
- reducing the consequence of flooding in 'at risk' area
A Housing officer will visit you to assess the repairs that are needed and tell you whether they fit our criteria.
How you repay the loan
You have two options - you choose which type of loan you prefer and we will carry out checks to make sure that it is suitable for you.
The first option is an interest-free monthly repayment loan. You start paying the loan back one month after we make the first payment for your home repairs, and you can pay it back over a period of up to ten years. We have produced a rough guide to monthly repayments (PDF, 176KB) showing how much you can expect to pay depending on how much you borrow.
The second option is an equity share loan. We offer you a loan in exchange for a share in the value of your property. There are no regular repayments, and no interest is added to the loan. You don't repay the loan until you sell your home or it is transferred to another person. The repayment will be based on the value of the property at the time that you sell or transfer it. For example, if we loan you £10,000 and your property is worth £100,000, we will have a 10% share in your property. When you come to repay the loan, the Council's stake is 10% of the sale price, so if the property is sold for £110,000, you repay £11,000.
Who is eligible for this loan
You must be a homeowner and have lived in your home for at least one year.
You will qualify if:
- you have insufficient savings to be able to afford to carry out the repairs, AND
- you are in receipt of an income related welfare benefit provided by the Government, OR
- you have reached state retirement pension age.
How you can apply
We currently have a very high demand for help with home repairs and are not taking new enquiries.
Page last reviewed: 13 October 2023
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