LOANS TO LANDLORDS / EMPTY HOMES
WHO ARE WESSEX HOME
IMPROVEMENT LOANS?
Wessex Home Improvement Loans (WHIL) is the trading name of Wessex
Resolutions C.I.C., a Community Interest Company working in partnership
with local authorities across the South West of England.
WHIL provides financial assistance, including a “LOANS TO LANDLORDS”
scheme which enables landlords to make essential repairs and renewals to
their rental properties.
WHAT ARE “LOANS TO LANDLORDS”
AND WHAT DO THEY OFFER?
The LOANS TO LANDLORDS SCHEME is supported by Local Authorities
and specifically for essential repairs and renewals. By facilitating this work
your Local Authority is seeking to achieve the Decent Homes standards in
privately rented housing stock. All loans will be secured against the property
by an Equitable Mortgage which allows WHIL to register our interest at the
Land Registry.
LOAN ELIGIBILITY
All referrals to WHIL must come from your Local Authority. If you are a
landlord, or, own an empty property and are considering renting to tenants
and need to make essential repairs or renewals you may qualify for financial
assistance from your Local Council in partnership with WHIL.
Please note: Further details of these schemes are available on request from
your Local Council. Depending on your Local Authority Policy, not all schemes
may be available in your area.
THE PROCESS
HOW DO I APPLY?
You have contacted the Council who will arrange for a Housing Officer to
visit your rental property and inspect the works to ensure that they meet the
criteria for a Loan. They will complete a schedule of works and inform WHIL
if you confirm that you would like to be considered for a loan. You will then
need to obtain quotes for the works and submit these to the council.
WHIL requires the following information to process a loan application:
YOU NEED TO:
„„ Complete the WHIL Application Form.
„„ Provide a copy of Full Experian Credit Search.
„„ Provide copies of your last month’s Bank Statements.
„„ Provide photocopy of proof of ID, for example a copy of a passport or
driving licence with photo.
Once the full cost of the works has been received, your Local Authority will
advise WHIL who in turn contact you by phone to agree the loan amount and
term of the loan, and then advise if the loan has been agreed in principle. A
copy of the loan agreements and security paperwork will be sent to you to
read through.
A WHIL Loans Adviser will then meet with you to sign the formal loan
paperwork, from which time you can then instruct the contractors to begin
the works. Upon completion the Housing Officer will make an inspection and
request WHIL to release the loan funds. It is then your responsibility to pay
the contractor.
IMPORTANT: YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP
REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Wessex Home Improvement Loans: Heatherton Park Studios, Bradford-on-Tone, Taunton TA4 1EU
T: 01823 461099 E: [email protected] www.wrcic.org.uk