Miss P, 62, of Kingsbridge bought her home in 1994 when she was working full time. In the last few years her health has deteriorated meaning she was unable to continue working and her income reduced dramatically.
When the roof of her home started to leak, she was unsure what to do as her savings would not cover the cost of the works and she would struggle to borrow money from a commercial lender given her financial circumstances.
Miss P called South Hams District Council to see if any financial assistance was available and after speaking to the Private Sector Housing Team, a referral was made to partner organisation Lendology. Miss P was able to explain her current circumstances face to face during the financial assessment in the comfort of her own home and a full understanding of any future changes in income could be taken into account. We were able to provide a loan with no monthly repayments so there was no impact on Miss P’s expenditure, but with the flexibility to make repayments as and when her financial situation improved.
The client said “Lendology have resolved my potential roofing crisis. Their services were easy for me to access over the telephone. I enjoyed the two home visits made by my adviser who clearly explained about Lendology and how they could help me. I was given all the documentation about them, the loan and the work plan in an easy to understand format in a special folder to keep it all in. Their support is ongoing as I know advice and guidance if needed is only a phone call away”.
Miss P sourced quotes for the works after a Technical Officer from the Council visited to confirm the extent of the roof works required. When the quote had been agreed by the Council, Lendology were able to proceed with preparing the loan paperwork and another home visit allowed the client to ask any questions about the loan before signing up.
Now the loan is in place, Miss P is able to instruct her chosen contractor to start works and soon she will no longer have to worry about the leaking roof.
“I am extremely grateful to have been able to take up a loan. Its repayment options are affordable and manageable on my low income. I felt able to give my adviser full insight into my financial situation and with the Council being involved I was further reassured.”