For landlords with rental properties in North Somerset, the local council has recently launched a scheme to assist with small or large home repairs, improvements or safety measures. This scheme aims to improve the private rental sector across the district.
Landlords can apply for a ‘tenant ready’ grant of up to £1,000. In addition, up to £5,000 can be applied for as a home improvement loan. This is at a reduced rate of 0% (typical 0% APR) delivered by us, Lendology CIC, for a variety of eligible measures* (*conditions apply).
In return, the council require that the property is offered on a 12-month tenancy, at a rental no more than 10% higher than the LHA rate, to a tenant from the Housing Register.
A free tenant finder service is also available to landlords that do not wish to take advantage of the grant and loan scheme.
For more information regarding eligibility, and how to apply, visit North Somerset Council’s website page direct http://www.n-somerset.gov.uk/wp-content/uploads/2018/07/landlord-incentive-scheme-grants-and-loans.pdf
For more information about our home improvement loans or eligibility, contact us today.