Wolverhampton City Council is joining forces with the regional housing board in an effort to provide local residents with a unique new home improvement loan scheme.

The so-called Kick-Start scheme would assist homeowners who are on low incomes or benefits in meeting the government's Decent Homes Standard by issuing loans secured against the equitable value of their property.

It is hoped that by offering homeowners an incentive to improve their dwellings, homes in the area will benefit from increased uptake of energy-efficient green technologies such as double glazing insulation.

Free independent financial advice will be offered to anyone taking out one of the loans and in certain cases there are no monthly repayments and a guarantee of no repossession, with the council only being reimbursed when the property is vacated.

Councillor Peter Bilson, cabinet member for Regeneration and Enterprise, said: "Every home should be wind and weather tight, be warm and have modern facilities. These loans are available to owner-occupiers who are on benefits or low income and who are unable to secure a loan from responsible lenders."

According to the National Insulation Association, 13 million homes in the UK currently lack adequate insulation.

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Author:  Joanne McCabe

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