Housing
London Rebuilding Society is piloting a home improvement scheme aimed at vulnerable, low or no-income homeowners in the London Borough of Newham, whose homes are unhealthy and dangerous (e.g. cold, damp or structurally unsound). In many cases, their homes are literally killing them: last year, Age Concern campaigned on the fact that more elderly people die because they are cold than because they are old.
LRS's scheme is based on equity reversion.
By swapping a percentage of their equity (say, 10%), a homeowner can receive a structured package of repairs, home maintenance and energy efficiency services, tailored to their individual needs and organised on their behalf by LRS.
Because our scheme is a swap and not a loan, there are no expensive monthly repayments and there is no effect on means-tested benefits.
In fact, the swap is not repaid until the home is sold, which could be 20 years from now.
For more information, call Abdus Saleh on 020 7682 1666
or email abdus.saleh@londonrebuilding.com