Welsh Government - Home Improvement Loan Scheme for Homeowners
The Home Improvement Loan scheme is available to private home-owners, including landlords of tenanted properties.
The scheme, funded by the Welsh Government, enables the Council to provide interest-free loans to owners of properties in need of renovation or up-grading to make them warm, safe and secure.
The scheme is targeted at people who meet the scheme’s affordability criteria and who may be restricted from accessing other sources of finance. Further information is available in the Scheme leaflet below.
To be considered for the scheme, please complete an Expression of Interest Form
Alternatively, for further information and to discuss the plans you have for your property in more detail, please contact the Empty Homes Team on 01248 752301 or by email at emptyhomesofficer@ynysmon.gov.wales
Please note that the loan is discretionary and an offer of a loan cannot be guaranteed until the applicant has received a formal notice of approval.
Eligibility
- The loan and any existing borrowing secured against the property will be considered.
- Total borrowing (loan required by Isle of Anglesey County Council + mortgage/ or other borrowings) must not exceed 80% of the property’s market value.
- Example: If your property is valued at £100,000 and your mortgage is £75,000, the maximum additional loan available would be £5,000.
- Affordability assessment is undertaken by Parity Trust and Lendology to ensure the loan is affordable to you.
Interest
All loans are interest-free.
Administration Fee
£500. Can be added to the loan amount or paid upfront.
Security
Loan will be secured as a first or second charge against the Land Registry Title.
Repayment terms
Agreed on a case-by-case basis.
Minimum loan
£1,000
Maximum loan
£15,000 per property.
Repayment deadline
All loans must be repaid by March 2030.
- If the loan does not cover the full cost of the work, evidence of adequate finance will be required to ensure the scheme is viable.
- Any works undertaken before approval will be at your own cost.
- In exceptional circumstances, and at the discretion of the Head of Housing Services, the council may offer:
- Property appreciation loan
- Lifetime loan (applicable where applicants fail financial assessment, but improvements are needed to make the home “safe, warm and secure”)
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