RCT home improvement loans
A new 0% loan scheme in partnership with Rhondda Cynon Taf County Borough Council, designed to help home owners have safer, warmer and greener homes.
Keeping people safer, warmer and more secure in Rhondda Cynon Taf
We’re delighted to announce a new 0% loan scheme in partnership with Rhondda Cynon Taf County Borough Council. The scheme is designed to help home owners have safer, warmer and greener homes.
We’re offering loans of £1000 to £10,000 (subject to affordability) with repayment terms of up to 5 years (terms of the loan may be extended or reduced, dependent on circumstances or loan amounts requested).
The loans can be used for building works including windows, doors, damp-proofing, disabled access, kitchens, bathrooms, stairs, plumbing, electrics, plasterwork, floors, roofing, chimneys and brickwork. The scheme also supports boilers, wood burning stoves, and energy efficiency measures such as insulation and some renewable energy installations. Please get in touch to check your eligibility for the scheme.
Up to £10,000 available
0% Interest
1-5 years repayment terms
No early repayment fees
No setup fees
Ready to get started?
Click the button below to answer a few quick questions. This helps us check whether the loan is right for you.
Request a callback
Do you have any questions? Call 01686 626234 or simply enter your details below and we’ll call you back during office hours.
1
Get in touch
Complete the form above.
2
Submit a loan request
Your application will be reviewed for approval.
3
Application approved
The money will be paid into your bank account.
4
Improve your home!
Repay the loan over flexible payment terms.
Frequently asked questions
How does the zero interest loan fund scheme work?
The scheme uses funds that have been invested in Robert Owen Community Banking by Rhondda Cynon Taf Council and the Welsh Government.
How much can I borrow?
You are currently able to apply for loans up to a maximum value of £10,000 per household interest free*.
*All applications are subject to affordability.
Home improvements included in the fund
Works that can be funded include (but are not limited to):
- Double glazing
- Damp problems
- Disabled access
- New radiators
- Roof repairs
Please contact us to find out whether or not the fund will cover the works required at your home.
Is the loan secured against my property?
Rhondda Cynon Taf Council will take out a land charge over your property in order to secure the loan.
Local Land Charges are used to register any restrictions or legal obligations in relation to a particular property or piece of land. When you take out a loan under one of our home owner loan schemes a local land charge is placed on the property for the duration of the loan. The Land Charge Register is updated by the relevant local authority and searches of this register take place as part of any conveyancing process. This means that if you sell the property or it changes hands by another means e.g. inheritance, any sums still owed as part of your loan agreement will become due.
If I sell my home do I have to repay my loan?
Yes. You will normally be expected to pay up in full out of the proceedings of any sale.
Am I eligible for a zero interest loan?
If you can answer yes to all the questions below, then you may be eligible to apply for a loan:
- Is the property you intend to have the installation on situated in RCT?
- Are the rates charged on that property paid to RCT BC?
- Are you the legal owner or co-owner of that property?
What's the process to apply?
Contact us to request an application pack. You will need to complete an application form, complete an affordability check and provide a consumer facing credit report. This will allow us to provide a decision in principle. Assuming your application is approved in principle we will request final documentation such as proof of ID and quotes. This will allow us to make a final decision and issue loan agreement paperwork.
You have a 14 day “cooling off” period after we’ve received your signed loan agreement, just in case you change your mind.
What if I take out a HILS loan but then run into difficulties?
Robert Owen Community Banking is a responsible lender. We will work with you to ensure that any loan you take out is affordable to you.
If you get a loan and your circumstances change, we will look at how we can reschedule your loan to help you. This would be free of charge.
What if I refuse to repay my loan?
The money that you will be borrowing originates from public funds. Where loans are persistently in default, we will take legal proceedings to ensure that all outstanding monies are returned.
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