If you’re a homeowner, looking to reduce the cost of heating your home and cutting carbon emissions, then you may be eligible for finance to help spread the cost of home energy improvements through a council-backed loan.
Bath and North East Somerset (B&NES) has partnered with Lendology, a social enterprise lender, to offer residents low-cost Energy Loans to fund energy-saving home improvements. Our partnership has been in place since 2005 and has lent more than £800,000 to homeowners across B&NES.
Owner occupiers and landlords can apply for a loan between £500 – £15,000, with a repayment term between six months and 15 years. The interest rate (4.2% APR) is fixed throughout the term of the loan.
Homeowners who qualify for a low-cost Energy Loan can use the money to help spread the costs of installing energy-saving improvements such as solar PV, low carbon heating or insulation.
Councillor Sarah Warren, deputy leader and cabinet member for Climate Emergency and Sustainable Travel said: “By providing accessible funding we hope to enable people to improve the energy efficiency of their homes. It will help to reduce their household running costs, which is especially important given the current high cost of energy. Any essential repairs and improvements to decarbonise homes will also help to support the transition to net zero.”
In the period April 2022 to March 2023 £50,861 of energy loans were approved for B&NES residents.
More information on the loans and how to apply can be found on the council’s Energy at Home webpage: https://www.energyathome.org.uk/grants-and-support or on the Lendology website https://www.lendology.org.uk