To be eligible, a permanent resident of the home must be in receipt of certain income-related benefits and, if the home is not in a Renewal Area,
- the home must have been owned and occupied for at least 3 years and
- a permanent resident of the home must be:
- aged under 16 years; or
- aged over 60 years; or
- registered as disabled; or
- suffering from a long-term illness.
The maximum assistance is £20,000 - the first £6,000 of which is a grant. The remaining £14,000 is provided as:
- a 50% grant and 50% loan combination outside Renewal Areas; or
- a 75% grant and 25% loan combination within Renewal Areas.
The grant element (excluding fees) is repayable on a sliding scale if the applicant ceases to own or occupy the home as their only or main residence within five years of the completion of the works. [NB: Renovation Grants approved prior to 1 April 2004 are repayable in full.]
The loan element is repayable in full when the home is sold, together with interest charged at a simple fixed rate (which is set at the Bank of England base rate at the beginning of the financial year in which the loan was approved).
If you would like more information about Home Fitness Assistance, please contact us.
