People across Bath and the surrounding area are now able to access affordable finance to fund essential repairs or improvements to make their homes more energy-efficient.
Bath and North East Somerset Council is working with Lendology, a social enterprise lender, to offer residents low-cost loans to fund energy-related home improvements.
The local authority has worked with Lendology since 2005 and has lent more than £676,896 to homeowners across Bath and North East Somerset to fund home repairs, improvements, adaptations and energy efficiency measures.
Councillor Sarah Warren, deputy leader and cabinet member for Climate Emergency and Sustainable Travel said: “The rising cost of energy means that many of us are wondering how we can improve the energy efficiency of our homes.
“Providing accessible funding to residents and landlords enables people to invest in their homes to improve the energy efficiency and reduce their running costs.
“For those homeowners unable able to access grant funding, an Energy Loan could offer the solution.
“Making essential repairs and home improvements to decarbonise their homes will also help homeowners to support the transition to net zero.”
Homeowners who qualify for a low-cost energy loan can use the money to help spread the cost of installing energy-saving improvements over time.
Residents can apply for a loan between £500 – £15,000, with a repayment term between six months and 15 years. The interest rate (4.2% APR) is fixed throughout the term of the loan.
In the period July to September 2021, £37,837 of loans were approved for local residents.
More information on the loans and how to apply can be found on the council’s Energy at Home webpage.
