»

Council backed finance for local landlords

Wessex

With the Colder Weather now settling in Torridge District Council is offering landlords in the area financial assistance to make energy efficiency improvements to their rental properties. The private rental sector has the poorest level of energy efficiency in the UK and the Government have introduced new regulations to improve the energy efficiency of these properties.

From April 2018, the majority of rental properties have been required to have an Energy Performance Certificate rated A to E. This means that landlords with an F or G rated property with new tenants moving in or existing tenancies being renewed need to act now to improve the energy performance of the property.

The council are keen to support landlords to ensure no one falls foul of the regulations and a Council subsidised loan is one option for landlords considering how to fund energy efficiency works.

The council works in partnership with Wessex Resolutions CIC, a not for profit, local lending organisation. The partnership has been running for over ten years across the South West.  Through providing loans, the council are ensuring that funds for homeowners and landlords are sustainable.  This means that every repayment goes back into the council pot to lend to homeowners into the future. 

Andrew Wallace, Managing Director at Wessex Resolutions said:

"Our landlord loans are proving a popular way for landlords to finance repairs or energy efficiency improvements to their rental properties, particularly in the rural areas that we serve where keeping properties maintained and running efficiently is particularly challenging. Our team of advisers work closely with landlords and our council partners to create flexible financial solutions to the issue of funding repairs".

Lead Member for Housing at Torridge - Councillor Cathrine Simmons said:

"Working in partnership with Wessex we hope that Landlords and home owners will continue to benefit from this lending scheme to make properties more habitable and improve energy efficiency. The process to access these funds is relatively straight forward and can make a huge difference to running costs as well."

For more information, call Wessex Resolutions direct on 01823 461099, visit www.wrcic.org.uk or email enquiries@wrcic.org.uk.

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.

20 December 2018