Wessex Resolutions CIC
Wessex Resolutions CIC is a not-for-profit organization based near Taunton, Somerset. They provide affordable finance to homeowners for essential repairs, maintenance, and adaptations through various loan schemes. The loans cater to different needs such as home improvements, empty property renovations, and first-time buyer support. With fixed-rate options and no hidden fees, Wessex Resolutions CIC aims to assist individuals in enhancing their living spaces. Explore their loan products and how the schemes work to find suitable solutions for your home.
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Presentation Transcript
Wessex Resolutions CIC Martine Bryant and Ellie Lister Loans Advisers martine.bryant@wrcic.org.uk ellie.lister@wrcic.org.uk
Who Are Wessex Resolutions CIC? A not-for-profit, Community Interest Company Based near Taunton, Somerset Established 2002
Our Objective To provide affordable finance to homeowners for essential repairs, maintenance or adaptation.
Loan Schemes Home Improvement Loans Loans to Landlords Empty Property Loans Park Home Loans First Time Buyer Loans
How the Loan Scheme works LA funds held by WRCIC Capital returned to pot Funds lent to client at 4% Interest covers WRCIC costs
Landlord and Empty Property Loans Essential repairs and modernisation Improve EPC rating Renovate to Rent Renovate to Sell Renovate to Reside
Loan Products Capital Repayment Deferred Capital Repayment Other loan products available depends on client needs
Amounts and Term Minimum loan - 1,000.00 Maximum loan - 15,000.00 Term ranges from 1 year to 15 years
The Important Bits Fixed rate of 4% (Representative 4.2% APR) No set up fees (except 20 Land Registry fee) No early repayment fees Variety of loan products to meet needs and means
Loan Protection Equitable Mortgage Title Restriction - Land Registry
Case Study Empty for 1.5 years Inherited Not able to sell un-mortgagable Worried about meeting additional Council Tax demands Repayment deferred for a year Works are now nearing completion
Why Wessex? Client focused Solution focused Flexibility No set up fees or early repayment penalties Extra support during application process for those who need it Local Authority funded
Wessex Resolutions CIC Any Questions?
