Home Appreciation Loan (HAL)

A Home Appreciation Loan is a loan with no monthly repayments which you only pay back when your home is transferred to someone else, for instance because you have sold it or passed away.  A Home Appreciation Loan is not a grant - it is an equity release loan. Equity is the difference between the value of your home and any money that you owe on it (such as a mortgage or a loan). 

You only have to repay the loan when you no longer own your home. The amount you repay is based on how much your property has changed in value when you no longer own it. There is no set repayment term which means you will not have to sell your house until you want to.

The minimum loan you can have is £1,000 and the maximum is £30,000. The loan is secured as a legal charge against your home.

If you are eligible for a HAL, you may also want to use our Agency Service who can oversee the works being carried out.  There is a fee for this service, but it can normally be included in the loan we are arranging for you.

You can find more information about the help that the Council gives with home repairs and improvements on our frequently asked questions page.