Home Improvement (Equity) Loans
Home Improvement Loans let owner occupiers release equity in their homes to carry out repairs or improvements to their property.
Work could include:
- rewiring
- new doors
- new water heating system
- re-roofing
- central heating
- extension
- new windows
- fitted kitchen or bathroom
- damp-proof courses
This loan is only for people eligible for state benefits; or those on a low income, who could not afford to finance the work by usual methods.
Unlike many other commercial equity release schemes; no repayment is made until the property is sold. The interest charge is added when the property increases in value following the repairs/improvements; or if the property has increased in value when the time comes to sell.
We have produced a leaflet to give more detail on the Equity Loans scheme. You can download the Equity Loans leaflet![(PDF [276Kb] opens in new window)](/images/PDF.gif)
(PDF [587Kb] opens in new window), (PDF [587Kb] opens in new window); or you can ask for a copy to be sent to you. Contact Leanne Reilly on 0151 233 6388, or email Leanne.reilly@liverpool.gov.uk and request the "Equity Loans Leaflet".