Housing Loans

•  A discretionary loan of up to £25,000 to assist home owners in improving the standard of their property.
• Loans range from a minimum of £1,000 up to a maximum of £25,000 per unit of accommodation, with a maximum of £150,000 per applicant at any time.
• There is a maximum 80% loan to value ratio - based on the current market value and condition of the property offered as security.

The loan is available if the mortgage and any secured loan(s) combined do not exceed 80% of the home's current value. For example, if the property is worth £100,000 and you have 75% mortgage, you may only apply for £5,000 (ie remaining 5% equity) loan for renovation.

• All loans will be offered interest free, but will incur an administration charge of £500, this can be added to the loan or paid upfront.
• All loan repayments will be administered by Lendology or Parity.

This assistance is discretionary and aimed primarily at vulnerable and low income clients.

Home Improvement Loan Assistance is available to:

• Owner Occupiers ‐ primary residence only
• Landlords (individuals & companies)
• Developers (partnerships and companies)
• Charities/Third Sector Organisations

The applicant’s ability to afford the loan will be determined by jointly by Cyngor Gwynedd and Lendology or Parity.

Application Form 

Send the above application form:

• By e-mail: taigwag@gwynedd.llyw.cymru, or;
• In the post: Housing and Property Dept., Cyngor Gwynedd, Cae Penarlâg, Dolgellau Gwynedd, LL40 2YB

Application Conditions

• Applications will have to supported by proof of Title and sometimes will  have to be supported by a RICS Valuation.  The cost of obtaining these are not included in the £500 administration fee.
• If the loan does not cover the full cost of the works, evidence of adequate finance to ensure that the scheme is financially viable from the start is required.
• Two quotes for the work under consideration must be submitted at time of application.

• All loans must be repaid before the end of March 2030.
• All loans will be secured as a first or second charge against the Land Registry Title and the property must be registered with the Land Registry prior to loan approval.
• The property must have valid insurance.

More information

• Welsh Government Website - Home Improvement Loans

What is the loan and how much is available?

A discretionary loan, up to £15,000.

What is it for?

To undertake essential or urgent repairs to home owners who would otherwise be unable to afford the costs involved in dealing with hazards arising from essential and urgent repairs.

Who can apply for it?

The applicant must be receiving one of the following means-tested benefits:

• Income Support, ESA (income based only)
• Council Tax Reduction (excluding single person discount)
• Jobseekers Allowance (income based only)
• Working or Child  Tax Credit (with an annual income of less than £15,050 per annum)
• Universal Credit
• Guaranteed Credit
• Pension Credit.

Conditions

• The repair required must be considered a Category 1 Hazard in accordance with the Housing, Health and Safety Rating System, as determined by an Officer of the Housing Department.
• Applicants must show that they have tried to address the problem via their buildings insurance company.
• The loan is repayable in full without exception when the property is sold.
• Applicants must provide evidence of ownership.