Eligibility

To find out whether you may be eligible for assistance please contact Parity Trust on 023 9237 5921 - a loan officer will explain how the scheme works and ask you a few questions to determine whether we may be able to assist you.

Required works

With most of our Home Trust Loans we will arrange for your local authority to inspect the works that need to be carried out. If they agree that works are necessary and the loan is potentially your best source of finance, one of our loan officers will contact you to arrange a financial review.

Financial review

The financial review will be carried out in your home and will focus on your income, expenditure, savings and borrowings. Parity Trust is a socially responsible lender and we aim to ensure that we only lend in appropriate circumstances.

Home Trust Loan application 

If we feel one our loan products may be suitable we will send you two copies of the financial report and a loan illustration. If you decide to proceed with a loan application you simply need to check the report to ensure the information is correct and return a signed copy to Parity Trust.

Verification of finances

Before we can formally offer a loan we need to verify the information contained within your financial report. The bulk of this will have been completed at the first home visit. We also need to check property ownership via a land registry search, a credit search and if you already have a mortgage it may be necessary in certain circumstances, to obtain consent from your provider.

Quotes

Formal loan offer

The loan terms can be agreed once you have confirmed the amount of monies required. We will explain the process before we send you any loan documentation for signature. Upon receipt of the signed loan agreements Parity Trust will arrange to secure the loan at HM Land Registry.

Commencement of works

Once the Land Registry has confirmed the loan is secured, we will inform you so that you can instruct your contractor to start the works.

Completion

In most cases your local authority will want to inspect the works. Unless otherwise agreed we will only pay the funds once we have received confirmation from you and your local authority that the works have been completed to a satisfactory standard.

We use the services of StreetUK - who are a specialist not-for-profit finance organisation - to deal with the day to day administration of our loan accounts. StreetUK deal with our loan disbursements and the collection of loan repayments. Parity Trust should always be contacted for any account related queries.

To enquire online, please follow this CONTACT US link, add your details to the form and we will contact you to discuss your application. You could also call us on 02392 375921 to speak with a loans officer.