Homeowners are encouraged to take steps towards more energy-efficient homes and lower energy bills with a Somerset Council-backed Lendology loan.
With the arrival of winter and rising energy prices, Lendology CIC, a social enterprise lender, and Somerset Council are reminding residents about the availability of fixed-rate loans.
These loans are designed to assist homeowners and landlords with repairs, energy efficiency improvements, and renewable energy upgrades such as insulation, windows, solar panels, and air source heat pumps.
Lendology has been a reliable partner of Somerset Council and the former district councils since 2005.
The lender collaborates with a broad spectrum of homeowners and landlords, offering a fixed interest rate for all, irrespective of the loan amount, term, or financial circumstances.
Loan decisions are made on an individual basis, making the scheme accessible to those who might struggle to borrow elsewhere, such as the self-employed, benefit recipients, or retirees.
The Lendology scheme was initially funded by the former Somerset district councils, and this original pot of money is recycled.
Every time a Somerset homeowner makes a monthly repayment, the money becomes available for another Somerset homeowner.
Councillor Graham Oakes, lead member for public health, environment and climate change, said: "With energy costs increasing again, Lendology loans offer a great way for homeowners to turn their draughty, cold houses into cosy, energy-efficient homes.
"The Lendology team is friendly and helpful.
"I encourage anyone interested in retrofitting their home to contact them.
"You could be a phone call away from a much warmer winter and you will be contributing to a greener, more sustainable Somerset."
Emma Lower, CEO at Lendology, added: "We’ve worked with the former Somerset district councils and Somerset Council for almost 25 years and are a trusted partner and lender across the county.
"We are seeing more and more homeowners contacting us to spread the cost of energy efficiency measures such as new windows, air source heat pumps and renewable energy measures such as solar panels.
"With the UK having the oldest housing stock in Europe, the cost of maintaining homes is also increasing and we continue to support homeowners with larger jobs such as replacing roofs."
Lendology also partners with local organisations like The Centre for Sustainable Energy to provide impartial energy advice, grant eligibility assessments, and home retrofit support.
Somerset Independence Plus (SIP) can assist with any essential repairs to the home, applying for various benefits that you may be eligible for and advising on how to save energy.
For more information about Lendology loans, visit their website at www.lendology.org.uk.
Somerset Council can also help with energy-saving advice support through Somerset Independence Plus.
You can also loan a free thermal imaging camera through Somerset libraries to help you find out exactly where your home leaks heat.
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