Homeowners can take out loan for repairs, say council

Homeowners in Eastbourne are being reminded about a council loan support scheme designed to help meet the cost of repairs or adaptations.

The Home Trust Loan scheme offers a subsidised low interest loan to those who may find it hard to access financial assistance, such as those on low incomes or living on pensions.

Eastbourne Borough Council has been working with not-for-profit community organisation Parity Trust to deliver the scheme since 2009.

Funds can be used for a variety of homeowner needs from improvements and repairs to adaptations and heating, and will help address potential hazards such as damp, electrical faults, security and sanitation.

Councillor Margaret Bannister, portfolio holder for housing, said, “There are many people who might want to improve their home or make urgent repairs who simply do not know about the Home Trust Loan, and so I am keen to remind Eastbourne residents it is available.

“The scheme is a safe and secure way for homeowners who may not be eligible for finance from banks and other lenders to apply for funds. Our partner Parity Trust offers expert assistance throughout the process and creates tailor-made packages that suit people’s individual budgets.

“For some, the thought of taking any sort of loan can be intimidating but the scheme is delivered in a socially responsible way and aimed at those who need support.”

All loans as part of the scheme are secured and supported by Eastbourne Borough Council, guaranteeing a low interest rate which is fixed for the term of the loan. Applicants are assessed through a full financial review by Parity Trust before any lending is carried out.

Emma Larby, home loans officer at Parity Trust, said, “My role is to help my clients investigate how best to finance essential improvements to their home. A loan is often one of several options and, when it is in my client’s best interests to proceed with this, I am happy to help them through the process.”

For more information on how to apply for a Home Trust Loan call 415373.