Homeowners in the Wokingham Borough can now benefit from a flexible home improvement loan scheme.
The scheme provides loans to local homeowners over the age of 60 to improve the warmth, comfort, safety or security of their homes.
The interest rate will be fixed for the length of the loan and will be set at, or just below, the Bank of England rate, currently 3.5%. Borrowers can make regular monthly payments, occasional payments or no payments at all – and can vary the arrangement at any time.
The loan – plus any outstanding interest – must be repaid if the property is sold or the owners cease to occupy it. The loan can also be paid off at any time without penalty.
Initially funded by the regional housing board, the scheme is run in partnership with 17 other local authorities across Berkshire, Buckinghamshire, Oxfordshire and Surrey.
Improvements which could be eligible to qualify for the scheme include:
- Essential repairs and maintenance
- Central heating or improvements to heating
- Replacement doors and windows
- Improvements to insulation
- Roof and structural repairs
- Replacement bathroom suites
- Installation of level-access showers
- Plumbing and drainage repairs
- Rewiring
- Replacement kitchens
- Burglar alarm and home security
- Replacement guttering, soffits and cladding
- Work associated with eradicating dampness, wet rot, dry rot and woodworm
- Installation of stairlifts or other adaptations
For further information or to arrange an appointment to discuss the scheme further call 0118 974 6355.
A leaflet providing details of the scheme is available from the council offices, as well as borough libraries.
