Especially topical at the moment, Sedgemoor, Taunton Deane and West Somerset Councils are taking the opportunity to remind homeowners and landlords of a loan scheme to replace heating systems. The scheme has been developed to keep people warm and cosy in their homes over the winter months.
The loan scheme is open to people who heat their homes with gas, oil, Calor gas, LPG, electric or other sources and to those who do not currently have central heating installed. Eligible homeowners can choose their own contractor and there are a variety of loan products available to suit individual needs and means.
Wessex Resolutions CIC is a not-for-profit finance provider working in close partnership with the council to deliver the loan scheme. The partnership has been running for over ten years across the district and has helped a huge variety of homeowners, from people simply requiring a new gas boiler to those needing the whole system installed, through to people living in off-gas properties or those that have lived without heating for years because they did not know help was available.
If your boiler has packed up; or your current system is inefficient or non-existent, a loan funded by the councils can help spread the cost of a replacement but let you enjoy the benefit right away. Through providing loans, the councils are ensuring that funds for homeowners are sustainable which means that every repayment goes back into the council pot to lend to homeowners into the future.
Loans have a fixed interest rate and typical 4.2% APR and are subject to status. Missing future payments could affect your credit rating and ability to obtain credit in the future. Wessex Resolutions CIC may insist on loans being protected at the Land Registry by a Title Restriction.