House Improvement Loans

District Office Chiltern - Flexible Home Improvement Loans

The Chiltern District Council provides flexible home improvement loans of up to 20,000: homeowners who have been vacant for at least six month. Loans are not demand-oriented, but depend on adequate capital in the real estate. In order to find out whether you will be qualifying, completing and returning the form for a flexible home improvement loan request[199.28KB], please call the Council Loan Officer on 01494 732016.

Lending is envisaged for improvement to make the home safe, warm er, healthy or more convenient for residents, e.g. other repair, adaptation, power management or safety related work. Loans are backed by a legally enforceable encumbrance of the real estate (such as a mortgage). Throughout the life of the loans, you can select whether you want to make periodic montly installments, casual installments or no installments at all.

If the house is for sale or if the owner no longer uses it, the mortgage plus interest owed must be paid back. The interest on the principal will be at a floating interest rates fixed by the Bank of England, with a floor interest of 3.5% and a ceiling of 7.00%.

Credits are taken into account for repair and improvement that will allow the real estate to be put back into operation. Example are: other repair and improvement of the equipment of the house. Loans are backed by an initial encumbrance on the real estate (such as a mortgage). Throughout the life of the loans, you can select whether you want to make periodic montly installments, casual installments or no installments at all.

Repayment of the principal plus interest is due within five years or on sale of the real estate (whichever comes first). The interest rates on the principal are 2% floating above the Bank of England basic interest rates, with a floor interest of 5% and a floor interest of 7.5%.