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Home appreciation loan (equity mortgage)

Home appreciation loans can help you to pay for repairs and other urgent work that affects your health or safety. They can also help you to bring your home up to current decency standards which say that a home should –

  • be safe
  • be warm
  • be weatherproof
  • have reasonably modern facilities

If you are applying for one of our disabled facilities grants, home appreciation loans can also be used to pay your part of the costs.

The home appreciation loan is not a grant. It is an equity release loan which is secured against your property.

Repayments

There are no monthly repayments to make and you only have to repay the loan when you no longer own your home. The amount you will repay depends on how much your property has changed in value when you sell it or no longer own it or when the last qualifying person leaves the property.

Loan amounts

The minimum loan amount is £2,000 and the maximum loan amount is normally £30,000. The amount of funding we have is limited and we will deal with enquiries in order of the date we receive them.

Eligibility for a loan

To qualify for the loan you must normally be a homeowner and –

  • be aged 18 or over
  • be on a low income or be in receipt of certain benefits or be unable to access a commercial loan
  • have a power or duty to carry out the works
  • have sufficient equity in the property
  • live in the property 

For more information or to apply for a home appreciation loan please contact us.

Contact us

Private Housing Section
Hull City Council
The Guildhall
Alfred Gelder Street
Hull
HU1 2AA

Tel: 01482 300 300
Text phone: 01482 300 349
Email: private.housing@hullcc.gov.uk

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Hull City Council, Guildhall, Alfred Gelder Street, Hull, HU1 2AA

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