Homeowners across Suffolk can now apply for a loan to help fund energy efficiency improvements to their homes, thanks to a partnership between Suffolk County Council and Lendology.
The Warm Homes Suffolk Loan scheme offers eligible homeowners access to loans from £2,000 to £15,000 at a fixed interest rate of 2.2% Annual Percentage Rate (APR) loan, with repayment terms of up to seven years.
Borrowers may also repay their loan early without penalty, subject to eligibility and loan terms.
The funding is designed to support residents who want to improve the energy performance of their homes while spreading the cost of installation over a manageable period.
The loan can be used for a range of energy efficiency measures, including:
- Solar photovoltaic (PV) systems
- Solar battery storage
- Solar thermal systems
- Ground source heat pumps
- Air source heat pumps
- Double and triple glazed windows and doors
- Loft, wall and floor insulation
- Ventilation systems when installed alongside insulation measures
Installing energy efficiency improvements can help homeowners reduce their energy bills and create warmer, more comfortable homes.
A well-insulated and energy-efficient property can also have positive benefits for residents’ health and wellbeing, particularly during colder winter months.
Councillor Morgan Brobyn, Suffolk County Council’s Cabinet Member for Food, Waste and Rural Affairs, said:
“We’re keen to help Suffolk residents make their homes more energy efficient and save money on their bills.
“We’re delighted to be partnering with Lendology again, who have considerable experience working with councils across the country to deliver projects like this for residents.
“With Lendology, Suffolk County Council is offering the lowest APR on this kind of loan amongst local authorities across the country.”
Emma Lower, Lendology CIC’s CEO, said:
“We’re delighted to be working with Suffolk County Council to open the Suffolk Warm Homes Loan scheme, creating another route for homeowners to access new funding for essential home improvements.
“Strong local partnerships like this help more people improve their homes, while supporting the long-term resilience of communities across Suffolk.”
Residents interested in applying can begin the process through the Lendology website:
For further information about the loan scheme, visit https://www.lendology.org.uk/warm-home-suffolk-loan
Notes to editors:
Representative Example (2% fixed interest rate, Representative 2.2% APR).
Loans are subject to status and are typically protected by a Title Restriction. Borrow £5,000 over 60 months, £87.64 monthly repayments. Total amount repayable = £5,278.40, including £20.00 fee for registering the Title Restriction against your property at the Land Registry. The £20.00 fee is only payable if a loan is agreed by Lendology, and you decide to proceed with a loan. We do not charge interest on the fee. A Title Restriction means that you may not be able to sell your home without our permission unless the loan is fully repaid. This is not a mortgage. Missing payments could affect your credit rating.
Lendology CIC is authorised and regulated by the Financial Conduct Authority under firm reference number 675263 for credit regulated activities.
