Highlighting affordable loans for home improvements
Published: 23 March 2023
People in Exeter who want to do up their homes, make urgent repairs, adaptations or improvements are being reminded about a set of easy, affordable loans that are available.
Exeter City Council has teamed up with Lendology CIC, a social enterprise lender to offer the loans, which are now being advertised on the side of one of the Council’s recycling trucks.
Since the partnership began in 2008, over £1 million has been leant to homeowners across the city. The scheme is also available for the installation of energy efficiency measures.
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.
Cllr Martin Pearce, Lead Councillor for Communities and Homelessness Prevention, said: “More and more people in Exeter are taking advantage of Lendology and their affordable loans to make improvements or adaptations to their homes.
Emma Lower, CEO of Lendology CIC, said: “We wanted to get the message out there and ensure that everyone in Exeter knows about Lendology and the benefits one of our loans can bring to their home. We’ve advertised in the Council’s civic newspaper, the Exeter Citizen, and now we’re bringing Lendology to the streets of Exeter on the side of once of the Council’s recycling trucks.”
Anyone interested in a loan can contact Lendology directly on 01823 461099 or email loans@lendology.org.uk.
Alternatively the Council can refer homeowners for those who would like to discuss their property concerns with the council first.
For more information visit the City Council website at https://www.lendology.org.uk/partner/view/exeter-city-council/