Established in 2003, we have lent over £27 million on behalf of our council partners.
Established in 2003, we have lent over £27 million on behalf of our council partners.
We are always happy to answer any questions you have about the work we do, our application process and our council partnerships. If our Frequently Asked Questions do not answer your query, please contact us and a member of our team can support you.
If you would like support to complete an application form or to communicate with us during your loan term, please let us know as soon as possible. We are here to help, and can adapt our communications with you based on your needs.
With your consent, we are happy to speak to someone other than yourself about your loan application. A member of our team will be happy to discuss this with you.
If you have asked for support in the past and your needs have changed, please do let us know so that we can keep your details up-to-date and ensure we deliver the service in a way that is tailored to your needs.
We will explain how we will store and use the information you give us. We may also be able to signpost you to complementary services that may support you.
Lendology are committed to providing support to you to allow you to decide whether one of our loans is right for you.
We have several services that can support you including:
Money problems can be incredibly stressful, causing anxiety, depression, and other mental health issues. WE understand that mental health struggles might lead to impulsive spending, poor financial decisions, or difficulty managing finances effectively.
We aim for our lending to support mental wellbeing, by fixing leaky roofs, replacing boilers and funding replacement windows amongst many other works.
Sometimes circumstances beyond our control cause our money situation to spiral out of control and cause us significant stress. If you are reading this and that is how you are feeling, please reach out to organisations such as the ones below to support you.
Financial abuse involves controlling your access to money or resources. It could be a family member, partner, or friend.
They may take your money and/or restrict your access to it, stop you working or put you in debt. They may ask you to take out loans in their name, ask for sums of money that they never repay or pressure you to change your will. They maybe living in your home and refusing to contribute to the bills.
If you feel you may be experiencing financial abuse, you can contact Refuge here: https://www.nationaldahelpline.org.uk/
You can also contact us for support and ask for us to contact you in a specific way or at a specific time.
If you’re worried an abuser may be monitoring you, close this website and delete it from your browser history – Refuge explain how to do this here: guide to browsing safely.
We also work with Stop Loan Sharks to report illegal money lenders, many of whom also pose as your friend. You can also report a loan shark on their website www.stoploansharks.co.uk.
Lendology currently only provides fixed rate interest loans. If you would like to apply for a grant, please speak with your local council’s private housing team about what they have available. You can also look on the gov.uk website to see if there are any government loans that suit your needs.
If during your application our Case Managers find that you are eligible for a loan with your local council, they will signpost post to the relevant agency.
If you are a homeowner within one of our Council partners, then you are eligible to apply for a loan. Your application will be reviewed by one of our Case Managers, who will look at your individual circumstances and finances before making a decision. This means that we can lend to people in receipt of benefits, with bad credit, and in retirement.
As a responsible lender, we are not able to lend to everyone who applies for a loan with us. Your Case Manager will discuss with you directly the reason your application cannot progress.
Currently Lendology can only support private properties (subject to terms).
To apply for a loan, you must first submit a free, no-obligation application, either online or over the phone. After this all of the applicants will be asked to share their financial information via open banking.
Once all the applicants have shared their financial information, our Case Managers will be able to complete their assessment. Our Case Managers will need 5 working days to complete their individual financial assessment, after which they will contact you directly to tell you the outcome.
Our applications are no obligation, which means that you can cancel at anytime for any reason, and then reapply in the future if you choose.
We do not use credit scores to make our lending decisions. However, we do complete a credit search which will leave a footprint on your credit file. We use the credit search to understand your current borrowing levels.
If you are in arrears with any existing borrowing, please do reach out to us to discuss your circumstances as we may still be able to help.
We cannot lend if you are currently in an undischarged bankruptcy. We may be able to lend if you have been bankrupt in the past and we will assess your application based on your individual circumstances.
Open Banking is a service that lets you share your financial data safely and securely with approved organisations. Instead of manually uploading bank statements or receipts, you give access to a service provider to securely view your banking information. It’s all about making the process simpler and more straightforward while keeping your data secure.
Open Banking is safe as the technology is regulated by the UK’s Financial Conduct Authority (FCA), ensuring that only approved providers can access your data. These providers must meet rigorous security standards to be certified. You can also revoke access at any time.
The data is also encrypted, meaning that even if it’s intercepted, it remains unreadable and secure.
We work in partnership with local councils to provide funds for a variety of works to a variety of properties. As part of the loans process, you will be asked to gather a minimum 1 quote with details of the work(s). The number of quotes you need depends on your local council, and what works are being done.
If your works are already in progress or completed, please be aware that our council partners may not retrospectively approve funding. For an informal conversation regarding your works, please do not hesitate to contact us.
Yes, you are free to choose whichever contractor you prefer, provided that the quote is within the terms of your agreement in principle. If your quote is above your agreement amount, you can choose to self-fund the difference.
The funds are released depending on the terms set by the local councils. Generally, we will release the funds once the works are complete and we receive an invoice for the completed works, but your Case Manager will explain the requirements as part of the loans process.
If needed, we can release part of the loan in order to cover deposits and other costs.
This will depend on the amount you borrow and the loan product you are eligible for. Your Case Manager will work with you to find a solution which meets your individual needs and means (subject to eligibility and status). You can also use the loan calculator on your council’s page to explore possible repayments.
A title restriction prevents the sale, remortgage, or transfer of ownership of a property unless certain conditions are met.
A title restriction ranks below a charge on the Land Registry.
Our Title Restriction means that if the loan balance is still outstanding when you sell your property, Lendology will require its funds returned as part of this process. Your legal representative will write to us and request a loan balance on the date of sale, and we will remove the Title Restriction when the balance of the loan has been received.
If you are re-mortgaging your home, your legal representative will contact us for our consent. We consider each case on a case-by-case basis and are likely to approve your re-mortgage if your new mortgage is similar to your previous mortgage when you took your Lendology loan. If we do not consent to your re-mortgage, we will confirm to your legal representative the loan balance required to settle the loan.
We will never ask you to sell your property in order to repay the loan.
APR stands for Annual Percentage Rate. The APR reflects the amount a loan costs annually and includes any fees or charges associated with a loan. APR is calculated in the same way by all lenders and this figure will help you to compare different loan products and providers. APR rates at Lendology are dependent on your council area.
A fixed interest rate means that you will only have to pay an agreed amount of interest. In comparison a flexible interest rate will change based on market rate movements. Lendology only offers fixed rate interest loans.
A settlement is when a payment is made that clears your loan balance to 0. An overpayment, however, is when you pay above the agreed amount which allows you to settle your loan quicker, and as a result reduces the amount of interest you will pay. At Lendology there are no early repayment fees, which means that you can overpay or settle your loan at any time.
A Lendology Empty Property Loan works in partnership with some of our Council Partners to renovate empty properties. Lendology makes lending decisions based on the affordability of the loan, which allows us to lend for works on a wide range of properties.
The funds are targeted to bring much needed properties back into use, and it’s your choice whether you then sell, rent or move into the property.
Each council has its own criteria on maximum borrowing and loan term, and your case manager will discuss this with you during a free, no-obligation chat about your project.
Some of our council partners will provide funds to landlords to cover a wide range of works, including energy efficiency improvements and modernisation. We accept applications for loans from individual landlords, companies, charities and properties owned in trust. We offer all our loans at a fixed interest rate, with no early repayment or administrative fees.
To find out if your council supports landlord applicants, please go to the relevant council page for the address of the property in question, or you can call on 01823 461099 and speak with one of our Case Managers.
Each council has its own criteria on maximum borrowing and loan term, and your case manager will discuss this with you during a free, no-obligation chat about your project.
If you’re expecting a change in circumstances that may affect your ability to pay your loan or if you’re already having difficulty meeting your monthly repayments, we would encourage you to contact us as early as possible.
By understanding your situation, we can offer tailored support, and, in most cases, there will be an option and the flexibility to help. To speak to one of our team, please contact us.
The best thing that you can do if you are worried that you will miss a payment is to contact us as soon as possible. You can fill in our contact form, email us at loans@lendology.org.uk or call us on 01823 461099.
We can discuss your situation and arrange for an appropriate solution for your circumstances.
We can arrange for payment breaks or reduced repayments to support you in the short and long term to get you back on track.
We are always more than happy to liaise with a debt advice organisation on your behalf, such as StepChange.
We understand that sometimes life is unexpected, and you may miss a payment because some money did not arrive in time or an extra payment came out of the blue. If it’s the first payment you’ve missed (or the first for a while) our first step is to contact you regarding an automatic recall of your Direct Debit. If the date is still not right for you, don’t worry, we give you time to contact us and request a later date or alternative arrangements.
Please make your payment via bank transfer, using your customer reference number as the reference so we can trace the loan payment to you. This should be a reference beginning with CA.
If you do not know your number, it will be on your loan agreement or loan statements.
If you cannot find it, please contact us. Without this reference on your payment, we will not know where to allocate the funds.
Our bank details are as follows:
Bank: Lloyds
Name: Lendology CIC
Sort Code: 30-93-14
Account No: 05746429
Your bank should confirm the details that you have entered are correct. Please check very carefully to make sure that the name Lendology CIC is a match with the details on your online banking. If you are not sure, please contact your bank for assistance.
Upon receipt, we will write to confirm that we have received your funds and to confirm your new loan balance.
We can accept a cheque.
Please write your CA reference number on the back of the cheque so we can trace the loan payment to you.
If you do not know your number, it will be on your loan agreement or loan statements.
If you cannot find it, please contact us. Without this reference on your payment, we will not know where to allocate the funds.
Please post to our office:
Lendology CIC
Heatherton Park Studios
Bradford on Tone
Taunton
TA4 1EU
We will send this to our bank for processing. Once this has been processed and cleared, we will write to confirm that we have received your funds and to confirm your new loan balance.
We cannot accept cash at our offices.
However, you can pay directly into our account with cash by walking into any Lloyds branch and making a deposit using an over the counter slip.
Our bank details are as follows:
Bank: Lloyds
Name: Lendology CIC
Sort Code: 30-93-14
Account No: 05746429
Please ensure they use the CA reference on the deposit reference so we can trace the loan payment to you. This is very important.
If you do not know your number, it will be on your loan agreement or loan statements.
If you cannot find it, please contact us. Without this reference on your payment, we will not know where to allocate the funds.
If you’d like to make a regular overpayment to your loan, please make a request to increase your Direct Debit, confirming:
How much you would like to increase it to;
How long you would like to increase your monthly repayment for;
When you would like the increase to happen (e.g. your next direct debit date, or a date further in the future).
You are not committed to making a regular overpayment. This means you can reduce your direct debit to the contracted amount at any time.
Please note that we cannot make adjustments to your Direct Debit payment in the five working days before it is due.
To make a settlement payment you first need to request a settlement statement by getting in touch. Written settlement figures will be valid for 7 days as interest on our loans accrues on a daily basis. You can then make your payment, using your loan reference number as the reference for the payment.
On receipt of the payment we will apply to the Land Registry to remove the Title Restriction. The timescales for removing them are down to Land Registry, it will be a minimum of 6 weeks and usually longer due to their covid backlog. This may be quicker than 6 weeks under exceptional circumstances.
There are no early repayment fees.
If we hold a title restriction on your property, your new lender requires our consent for the re-mortgage or any further secured lending to go ahead. Before we consent, we will contact you to find out if you are planning to keep your Lendology loan or repay on the re-mortgage.
If you wish to keep your loan with us, we will want to find out more about the new borrowing including the loan amount, repayment type and term. Requests are reviewed on a case-by-case basis. If there is no additional borrowing, consent is automatically granted.
If you’re looking to move and sell your house, your solicitor will contact us to request a settlement figure on your behalf, this figure will be calculated up to the date of the completion of your sale. The loan will be repaid with the proceeds of the house sale. Upon receipt of cleared funds, we will contact Land Registry to remove the title restriction.
The timescales for removing them are down to Land Registry, it will be a minimum of 6 weeks and usually longer due to their covid backlog. This may be quicker than 6 weeks under exceptional circumstances.
Scheme set up costs vary depending on your requirements. After an initial discussion, we will be able to provide a cost-break down detailing both initial set-up fees and ongoing activity-based pricing. Contact to discuss.
Ideally, Lendology require a minimum of £300,000 as a starting level for a loan scheme.
With our average loan value of around £8,000, it means that we could support approximately 37 households as a start point.
We have been operating for nearly 20 years, and so have a wealth of experience working with local councils, including developing new loan scheme offerings and on-boarding new partners.
We work in partnership with each council and lend according to their Housing Policy. We currently support owner occupiers, landlords, empty property owners and park home owners under our main loan schemes.
Not as a matter of course. However, if there is a situation where a council partner requests us to lend to a non-homeowner, we are able to complete a financial assessment as per our usual application process.
We register a Title Restriction against the property at the Land Registry to enable us to protect local council funds. This means that should the homeowner look to re-mortgage, sell or transfer ownership, we are notified and the loan agreement stipulates repayment on any of these trigger events.
Typically, we have around 0.8% of loans in arrears, so a very low rate. Our initial affordability assessment ensures that when we lend, we are confident that customers can afford to make repayments now and into the future.
We are regulated by the Financial Conduct Authority (FCA), and we work through a conversation with the customer where we undertake a financial assessment, which looks at all income and outgoings. We realise the benefit of having a conversation, and we follow that up with requesting copies of financial documents to support the conversation.
We ask our customers to share their financial information using Open Banking. If Open Banking isn’t an option, we will ask for copies of bank statements, and other supporting information.
It can take as little as 2-3 days, but the average is more like 14 days.
We offer a variety of interest rates depending on our agreements with our partners. We currently offer loans at between 4% and 0% fixed rate interest.
We charge £20 to cover the cost of entering the Title Restriction at the Land Registry.
We always ask for a copy of the final invoice, which matches the amount of money borrowed.
We always signpost applicants for funds that are freely available in the first instance, and we are also there to support them if the work required is more expensive than the grant.
