Affordable loans available for home improvements

Published: 24 March 2022

People in Exeter wanting to do up their homes, make urgent repairs, adaptations or improvements can take advantage of low cost loans. The scheme is also available for the installation of energy efficiency measures.

Exeter City Council has teamed up with Lendology CIC, a social enterprise lender. Since the partnership began in 2008, over £1 million has been leant to homeowners across the city.

Lending council funds ensures a recycling pot of capital and to date nearly £700,000 has been repaid by Exeter homeowners, which can then be leant again and again.

Lendology provides access to responsible finance. Unlike other lenders, Lendology assess everyone based on their unique financial circumstances, making their lending decisions with people, for people and putting impact before profit.

One Exeter homeowner who took advantage of the initiative was able to fund the installation of a new boiler, kitchen, bathroom, shower, driveway, new doors and windows. She was also able to have the boiler relocated upstairs.

Once the works were completed, the homeowner revealed that the improvements had given her more independence and an increased sense of wellbeing. She also said that she was much happier and feels more in control of her life.

Anyone interested in a loan can contact Lendology directly by calling Shannon Nutkins on 01823 461099 or email communications@lendology.org.uk

Alternatively the Council can refer the homeowner through the scheme and then go through an assessment process to check that the loan requested is affordable.

For more information visit the City Council website at https://www.lendology.org.uk/partner/view/exeter-city-council/