05/10/2007
City helps people invest in their homes
A NEW agency is being set up to help people improve their homes.
The Home Improvement Agency forms a central part of the city's Private Sector Renewal Policy which is being brought bang up to date to encourage homeowners and landlords to invest in their properties - allowing public funds to be targeted at the most vulnerable people living in the worst housing conditions.
Council money will be targeted at reducing the number of empty properties, alleviating cold conditions and eradicating homes that don't meet the government's Decent Home Standards.
Liverpool's housing policy must also fit in with the city's corporate target which aims to increase owner occupation from 50% to 60%.
Councillor Marilyn Fielding, Liverpool's executive member for Housing and Neighbourhood Services, said: "The main responsibility for maintaining a property should lie with the owner, but some vulnerable owners will not have the resources to keep their home in decent state of repair. In these cases I think the council has a role to offer advice and occasionally assistance."
The majority of homeowners will be encouraged to invest in improving the structure of their property, protecting the long-term value of their home, through council-backed equity release and loans.
Other schemes include:
Access To Homeownership - designed to assist local people to take their first step on the property ladder. Potential first-time buyers are given home ownership information and for qualifying clients a financial package is available covering valuation costs, legal fees and lenders fees.
A Handypersons Service - provides all Liverpool residents over the age of 50 with assistance for minor repairs in their homes and the resident only pays for materials.
Equity Loans - available to people on low incomes or benefits who are unable to access loans through banks or building societies and allows the resident to use part of the value of their property to finance the work and not pay anything back until they sell their home.
A Mortgage Rescue Scheme may also be made available in the future for for people facing repossession.
The Houseproud Initiative - a loan for homeowners over 60 or home owners of any age who are disabled or have a disabled person living with them. This is especially useful where people are concerned about 'cowboy' builders as the council can arrange for a good quality builder and will inspect the completed work.
Capital Release Loan which need repaying when the home is sold falls under the Houseproud scheme as do: Maturity Loans - for older people who may have difficulty accessing a repayment loan (often needed because the terms of the loan would last beyond an individual's 65th birthday) and Interest Only Loans in which only the interest on the loan is payable each month until the property is sold.
The Home Improvement Agency is being set up by Liverpool City Council to co-ordinate activity and help elderly and disabled people remain independent in their own homes.
The agency will work with homeowners to identify essential repair and improvement work, find suitable contractors and make sure the work is carried out properly.
It will also help people access public funding schemes, such as disabled facilities grants and give information on loans, insurance and equity release schemes - which allow homeowners to use part of their homes' equity to fund improvements.
Cath Green, Liverpool's assistant executive director for Housing and Neighbourhood Services, said: "This new agency and a whole package of measures the council has introduced will help create more sustainable communities by keeping a larger proportion of homeowners in all our neighbourhoods. It could mean making those essential repairs that have needed doing for some time; whether it's a new roof, fixing the drains, putting in a stairlift or getting a downstairs loo.
"It will also help some people to continue living in their own homes longer instead of having to consider a move into care. Accessing funding or allowing people to release some of their equity in their property to use to improve their homes will be an enormous benefit."
To access help or advice please ring 233 3000.
Liverpool City Council's executive board will discuss the new Private Sector Renewal Strategy at a meeting later this year.
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