What is a Home Repair Loan?
If the work required for your house does not meet any of the criteria for a grant then you may qualify for a Home Repair Loan.
The loan is secured by way of a legal charge placed on your property at Land Registry. The loan is repayable only when the name (s) on the title deeds change - “ disposal”. 5% interest (not compounded) is added each year for a maximum of 15 years. When the 15 year period has elapsed no further interest will be charged but the loan and the interest accrued will remain as a charge on the property until disposal.
See our leaflet “Home Repair Loans” for more information.