May 30, 2024

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New loan scheme to help Cornwall residents fund green home improvements

Homeowners in Cornwall can now apply for lower-cost loans to fund energy saving home improvements through a new Council-backed scheme.

The Green Home Improvement Scheme aims to fill the gaps for those who are ineligible for grants. Homeowners and private landlords can apply, however the scheme is not open to properties used as holiday lets or second homes.

Cornwall Council has appointed Lendology CIC to run the pilot scheme, which has been funded by the Cornwall and Isles of Scilly Good Growth Fund. The Green Home improvement Loans Scheme has received £518,254 from the UK Government through the UK Shared Prosperity Fund.

 

Olly Monk, Cornwall Council cabinet portfolio holder for housing, said: “Poor energy efficiency in homes can impact on health and wellbeing, as well as costing more to heat.

“Finding the money for improvements to make our homes more energy efficient, healthier to live in and cheaper to run is a problem for many. With funding from the Shared Prosperity Fund we’re able to introduce this pilot loan scheme to help residents pay for improvements which are costly to introduce but save money in the longer term.

“We want to help make Cornish homes warmer, healthier, more energy efficient and kinder to the planet.”

 

Cornwall Council has been chosen by Government as a Lead Authority for the Cornwall and Isles of Scilly Good Growth Fund and is responsible for monitoring the progress of projects funded through the UK Shared Prosperity Fund in Cornwall and the Isles of Scilly.

 

Louis Gardner, Cornwall Council cabinet portfolio holder for economy, said: “The Shared Prosperity Fund is about improving life for our residents – whether that be through the economy by boosting skills, jobs and wages, supporting community events and our cultural heritage or supporting work to reduce Cornwall’s carbon emissions and improve health and wellbeing.”

 

Lendology CIC is a not-for-profit organisation which has been appointed to manage and deliver the loans on behalf of Cornwall Council. The organisation works with several other local authorities to deliver similar schemes across the south-west.

 

Emma Lower, Lendology CEO, said: “As Lendology embarks on this transformative partnership with Cornwall Council, we are driven by a shared commitment to creating tangible impact in the lives of individuals and communities. Our social impact report underscores the vital role of the services we provide, emphasising that financial support from council partners is pivotal. Cornwall Council’s vision aligns seamlessly with our mission, challenging assumptions and championing the cause of those in need. It’s not just about the numbers; it’s about the lives touched, homes transformed, and communities uplifted. I am thrilled that through this collaboration, we can continue making a positive difference, echoing the profound impact our loans have on families and the fabric of our communities.”

 

To find about more about the loan scheme and eligibility for homeowners and landlords with private rental properties in Cornwall, visit the Lendology website or call Lendology on 01823 461099.