Bristol City Council has been working in partnership with not-for-profit organisation, Wessex Home Improvement Loans, to provide an affordable way for homeowners on low incomes to make their homes decent. The loans can be repaid in a number of different ways depending on individual need and are all based on the applicant paying only 3% fixed rate interest with the council also paying 3% to subsidise the loan. The current maximum loan available is usually £15,000.
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Since the scheme started in April 2005, 86 households in Bristol have received home improvement loans. The latest loans agreed bring the total figure given by the council so far to over £1/2 million.
Councillor Judith Price, Cabinet Member for Homes & Streetscene, said: "It's our aim to ensure everyone in the city lives in a decent home, in a better neighbourhood. Our range of very low cost loans with flexible repayment schemes allows homeowners to bring their properties up to a reasonable condition without the fear of being unable to meet the cost of repayment. I am delighted that we have been able to help so many people make necessary improvements to bring them up to the decent homes standard."
(CD/JM)
