Home Repairs and Improvements
Section 3: Other sources of financial help
If you can't get all the home repair work you need funded through a grant from your council, you may want to explore other sources of financial help. Some of the options which could be open to you are outlined below.
Community Care Grants
Community Care Grants can be given for minor essential repairs and improvements as well as for furniture and equipment. To qualify for a Community Care Grant you need to be receiving Pension Credit and have less than £1,000 in savings (or less than £500 if you and your partner are below 60 years of age). You will be expected to use anything you have over £1,000 (or £500) towards paying for what you need. However, you can't get a Community Care Grant for repairs to local council or housing association homes. You claim on form 'SF300' which is available from your local social security office.
Payments are discretionary, which means you have no legal right to a grant. Each area has a set amount of money to spend on Community Care Grants and is unlikely to have enough money for all claims. If you are refused a Community Care Grant or you are awarded a grant but it is for less than the amount you asked for, you can ask for a review of the decision. If you are in this situation your local Citizens Advice Bureau can give you further advice.
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Benevolent societies
If you can't get a grant from your council but are still in need of financial help to help with the cost of small repairs or adaptations, a benevolent society may be able to help.
There are many different benevolent societies which offer assistance to older people in need. For more information on the type of help they give and how to apply download our information sheet Financial Help from Benevolent Societies (PDF).
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Equity release schemes
Equity release schemes involve mortgaging or selling part of your home in return for a cash lump sum or regular monthly income.
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Interest-only loans: Interest-only loans are one type of equity release scheme. They are usually available only to older home-owners. They allow you to borrow a sum of money to repair and improve your home without having to repay the capital. Instead, you pay a monthly interest charge and the amount you borrow is kept as a charge on your property. The sum you borrow does not have to be repaid until the house is sold or in the event of your death.
If you are in receipt of Pension Credit you may be able to get some of the interest on the loan paid by the Department for Work and Pensions. Many banks and building societies offer this type of loan, so always shop around to see who can give you the best deal. Think carefully about whether you can afford the repayments.
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Houseproud scheme: A 'not for profit' organisation called The Home Improvement Trust aims to make equity release schemes more accessible to older homeowners who need funds for repairs and adaptations. They do this through the Houseproud scheme, which is open to all homeowners aged 60 and over, as well as any household with a disabled person living there. For an information pack and video contact The Home Improvement Trust.
