Foundations Special Webinar, 05 July 2022
Financial help for homeowners across the South West for home repairs, improvements or adaptations
Did you know that local councils across the South West work in partnership with not-for-profit lender Wessex Resolutions CIC to provide loan funding to homeowners for home repairs and improvements? Wessex Resolutions CIC have created a sustainable funding stream to enable homeowners to access responsible finance. To date, they have recycled over £8.4 million of council funds with their innovative loan scheme.
Homeowners, landlords, empty property owners and park-home owners are among the people that can apply. A variety of works can be considered under the scheme such as roof and thatch repairs, boiler and other heating system replacements or installation, energy efficiency measure, replacing rotten or draughty windows, structural repairs, electrical or plumbing work, and updating kitchens and bathrooms to name a few.
Wessex Resolutions CIC
As a social enterprise, Wessex Resolutions CIC provide a service tailored to individual circumstances. This means that whatever your circumstances, your dedicated loans adviser can work with you to provide tailored and holistic advice and support. Wessex Resolutions understand that every household is unique and makes decisions based on careful assessments and not a ‘computer says no’ approach.
Unlike other lenders, your circumstances will not mean a higher interest rate. Everyone receives the same interest rate and unlike other lenders, the interest rate does not change depending on how much you borrow or for how long.
This means that whether you borrow £1,000 for 5 years, or £15,000 for 15 years, the interest rate of 4% is always the same. You can pay your loan off in full at any time without penalty and can also make lump sum reductions of £100 or more at any stage to reduce the balance outstanding.
A Devon homeowner, Mr R, didn’t think it would be financially possible to update his outdated kitchen or add in a downstairs toilet without having the funds saved up. His new, modern kitchen, ‘proper’ functioning dining room and separate downstairs toilet have transformed his home! He found the process straightforward and remarkably easy and says that finding the scheme was the answer to his prayers. When asked what he would say to people who are thinking about apply for a Home Improvement Loan from Wessex Resolutions CIC he simply answered, “Go ahead – what are you waiting for?”.