We offer a loan to help people with the cost of repairs and other urgent works that affect their health or safety and to bring the house up to current decency standard.
The decency standard looks to ensure that homes are safe, warm and weather proof with reasonably modern facilities.
The home appreciation loan is not a grant. It's an equity release loan but with no monthly payments to make. You only have to repay the loan when you no longer own your home, for example if you sell it. It allows you to carry out work to repair or improve your home without having to make regular repayments like a normal loan would do.
When it comes to repaying your loan, the amount you'll repay is based on how much your property has changed in value when you sell it, or no longer own it.
Who is eligible for a loan?
To qualify for help you must normally:
- Be aged 18 or over
- Be a homeowner
- Be either 60 or over, disabled, or have a child under 16 living with you and be in receipt of one of the following benefits:
- Income support,
- Guaranteed pension credit,
- Council tax benefit,
- Housing benefit,
- Working tax credit (excluding child tax credit)
- Income based job seekers allowance
- Have a power or duty to carry out the works
- Have lived in the property for 12 months prior to making the application
- Have equity in the property.
How much loan will be given?
The minimum amount is £2,000 and the maximum loan amount is normally £30,000. There is a limited budget each year for this assistance and enquiries will be dealt with in date order in a waiting list system.
Features:
- No monthly repayments
- No set repayment term
- The loan is secured against your property
- Repayable on sale/transfer of ownership of property, move into long term care or sheltered accommodation or when you die.
How to apply:
Contact us if you would like to apply: housing improvement enquiry
For further information email: housing@northlincs.gov.uk.
For further information visit homes and loans.