loans for pensioners

Finding the money to fund essential home improvement projects is a challenge for anyone, but it can be particularly difficult those who are no longer earning a salary.  Ironically, it is after your working life has ended that certain home improvement projects become necessary, even essential. It might be that the boiler needs to be replaced, or the heating system updated, to ensure that the winter cold does not bite too sharply. Many people develop issues with their mobility as they get older, and changes need to be made to the home in order to make it more accessible and convenient to live in.

Home improvements like these can prove to be very expensive – in many cases, prohibitively so. The good news is that the government and local councils can provide loans and grants to cover the costs of these essential alterations to your home. These are available to all deserving cases, and are designed to make sure that homes are comfortable and safe, as well as economical and environmentally friendly.

Here are some of the most common types of home improvements for which pensioners are eligible to receive financial support.

Home repairs

home repairsIf you need to get repairs or renovations done to your home, you may qualify for a grant from your local council. The amounts on offer, and the kinds of jobs that are covered, vary from region to region, so to get a clear idea of whether you will be eligible for a Home Repair Assistance Grant, it is advisable to contact your local council directly. Find your local council here .

Heating and insulation

insulating a cold loftThe government is also keen to help the over 60s enjoy the benefits of a warm home without having to pay astronomical heating bills. As a result, there is a variety of schemes available across the UK designed to help pensioners improve their heating systems and the overall energy efficiency of their homes. To qualify for a loan or grant under one of these schemes, you need to be over 60, a homeowner and in receipt of a state benefit such as pension credits or housing benefit. You can get more information on the current schemes for helping pensioners to reduce their energy bills from Citizens Advice. View Schemes.

Disability adaptations

stair liftMany of the home improvements that over 60s often find themselves needing to make are adaptations that make mobility around the home easier and more comfortable. Hand rails, stairlifts, as well as much larger conversions like adding a downstairs bathroom or getting an extension or conversion in order to create a new ground level bedroom, are all possible adaptations that many pensioners need to get. Consequently, local councils offer grants and loans that either cover the full amount, or help towards the final cost, of such necessary adaptations. It’s worth bearing in mind that these grants and loans tend to be means tested, so it is possible that you will not be given the full amount. Again, contact your local council directly for more accurate details.