Kick-Start for home improvement loans
Released: 31 October 2007
Wolverhampton City Council is working with the regional housing board to provide a unique home improvement loan scheme.
The Kick-Start scheme is aimed at people who own their own home, but may have a low income or be on benefits. The scheme is designed to help homeowners meet the Government’s ‘Decent Homes Standard’ with a self-help loan based on the equitable value within their property.
The council is also offering advice, a home survey, work plan and costings for any necessary work. Free independent financial advice is also available, including a choice of loans backed by the council - some of which offer no monthly repayments with the guarantee of no repossession. The council is reimbursed when the property is sold or vacated by the original client.
Councillor Peter Bilson, Cabinet Member for Regeneration and Enterprise, said: “Every home should be wind and weather tight, be warm and have modern facilities.
“These loans are available to owner-occupiers who are on benefits or low income and who are unable to secure a loan from responsible lenders such as banks and building societies, or do not have enough savings to carry out the work themselves.”
The council has developed a video commercial about the scheme which is to be shown at a roadshow event in the Mander Centre from 5 November to 11 November. Council staff will also be on hand to discuss the scheme and offer further advice.
Homeowners interested in the scheme can obtain further advice by calling 01902 552796.
Issued by the press office.
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