A COMMUNITY interest company based in Bradford-on-Tone has lent £1.645million to homeowners over the past year.

Wessex Resolutions, a not-for-profit social enterprise, had set a target of lending £1.5m in the year to the end of April - £300,000 more than the previous 12 months.

It beat its goal, despite the restrictions imposed by the Covid-19 crisis, working with 18 councils in the South-West to provide 'sensible lending to those in need' for essential repairs and improvements.

The youngest borrower was 22-year-old, while the oldest was 89. ‘Mrs L’ from Wellington used a loan to install the first-ever insulation in the roof space of her 115-year-old lath and plaster property.

Emma Lower, chief executive of Wessex Resolutions CIC, said: "I want to say a huge and heartfelt thank you to all 18 of our council partners across the West of England and the South West for enabling their funds to be used in this way.

"It’s a really unique model where we absolutely put our clients first and find a solution to their needs. As we’re a social enterprise, we put people before profit.

"But most of all, thank you to everyone who has borrowed from Wessex Resolutions and chosen and trusted us to help them improve their homes, particularly accessing our services remotely as we continue to operate and serve our clients through means of remote working since the end of March."

Wessex Resolutions’ loans are not based on an individual’s credit score and are designed for a range of people, from existing homeowners, first-time buyers, park home-owners, landlords and those trying to bring empty properties back into use.

The community interest company uses a sustainable funding stream, in partnership with councils, to improve the quality of homes throughout the region and has already ‘recycled’ more than £5 million in loans which will help support future clients.