Report by Service Lead – Home Adaptations, Improvements and Energy Efficiency Officer, (attached).

The Committee considered a report by the Service Lead – Home Adaptations, Improvements and Energy Efficiency Officer (circulated previously), regarding the Home Loan Policy revision.

The Service Lead – Home Adaptations, Improvements and Energy Efficiency Officer highlighted the following to the Committee:

·         The current policy contained five loan types with a cap of £10,000.

·         The loan take up was reasonable but could be improved to maximise the community benefit from the load fund

·         The Council had worked with Lendology CIC since 2005 to help deliver the loans to local residents.

·         It had been found that the cap was excluding some people from being able to take a loan.

·         The streamlining of the Policy reduced the loans from five to three:

Ø  Commercial Conversion;

Ø  Empty homes; and

Ø  Home owners loans.

·         The revised Loan Policy had been drafted after consultation with Officers and Representatives from Lendology CIC and adhered to the over-arching aims of:

Ø  supporting the increase and supply of housing (rent or sale); and

Ø   to improve housing standards/energy efficiency.

·         Sitting under the Home ownership loans a new ‘Lite Loan’ had been added.

·         A ‘Lite Loan’ offered a loan between £500 and £1,000 for the purposes of essential repairs, improvements, and adaptations.

·         The introduction of a £1,000 Bulk Buy Fuel loan at 0% interest for a year.

RESOLVED that the revised Loan Policy, as set out in Appendix A, be approved.