Flexible Home Improvement Loans

South Bucks District Council offers Flexible Home Improvement Loans of up to £20,000 to:

  • home owner-occupiers who are aged 60 or over
  • owners of homes which have been empty for at least six months.

The loans are not means tested but are dependant on having sufficient equity in the property.

Flexible Loans for home owners aged 60 and over

Loans will be considered for improvements which make the home safer, warmer, healthier or more comfortable for the occupants, for example:

  • re-roofing
  • re-wiring
  • installing double glazing
  • installation of a new central heating boiler
  • installation of a walk-in shower
  • installation of a stairlift
  • installing a burglar alarm
  • other repairs, adaptations, energy efficiency or security related works.

The loan is secured by a legal charge on the property (like a mortgage).

During the term of the loan you can choose to make regular monthly payments, occasional payments or no payments at all.

The loan, plus outstanding interest, must be repaid if the home is sold or if the owners cease to occupy it.

Interest is charged on the loan at a variable rate set at Bank of England base rate, subject to a minimum rate of 3.5% and a maximum of 7.00%.

Flexible Loans for long term empty properties

Loans will be considered for repairs and improvements which enable the property to be brought back into use. Examples include:

  • re-roofing
  • re-wiring
  • installation or renewal of a central heating system
  • other repairs and improvements to the amenities in the house.

The loan is secured by a first charge on the property (like a mortgage).

During the term of the loan you can choose to make regular monthly payments, occasional payments or no payments at all.

The loan, plus outstanding interest, must be repaid within five years, or if the property is sold (whichever occurs first).

Interest is charged on the loan at a variable rate set at 2% above Bank of England base rate, subject to a minimum rate of 5% and a maximum of 7.5%.

How to apply

To find out more, telephone the Council's Loans Officer on 01494 732016 or email housing@southbucks.gov.uk