Home owners in Aberdeenshire can now apply for a loan from a minimum value of £5000, for home improvements.
Under the equity loan scheme people can apply to a total fund of £250,000 administered by Aberdeenshire Council’s Social Work and Housing Service.
The loan will be provided subject to eligibility and in return for a share of equity, to the authority when the loan applicant’s property is sold.
Councillor Karen Clark, chair of the housing and social work committee said: “The equity loan scheme provides a solution to assist home owners who genuinely can’t afford to pay for essential repairs and maintenance.
“By providing access to affordable finance to create housing that is energy efficient as well as fit for purpose the council can continue to improve the standard of housing in the private sector – a key consideration in our wider housing policies too.”
Priority will be given to older or vulnerable homeowners, properties in selected regeneration areas and ex-council properties which adjoin existing council properties. More info is available at: www.aberdeenshire.gov.uk/privatehousing/Homeowners.asp