New fund to help revive empty homes
- Credit: Archant
Torridge District Council hopes the loans will bring back into use some of the 900 empty homes in the area.
OWNERS of empty properties in Torridge could receive a loan of up to £15,000 to bring them back into affordable use thanks to a new fund.
Torridge District Council has signed up to the national Empty Homes Loan Fund to help bring some of the 900 empty homes in the area back into use.
Councillor David Lausen, lead member for housing, said: “Currently, owners of empty homes are often unable to access funds to bring the properties back into use, creating a vicious cycle of decline in areas with high numbers of empty properties.
“This initiative should help to tackle this.”
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The loans will be offered at a fixed five per cent interest rate, allowing owners to renovate the property to a decent homes standard.
The £3 million pot has been funded by central government and administered by Ecology Building Society.
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David Ireland OBE, chief executive of Empty Homes, said: “This scheme is a real first in England and is a great example of central government working together with the public and private sector to try and reduce the number of empty homes in the UK.
“We hope the fund will enable hundreds of empty homes to be brought back up to standard and back into the housing stock.”
For more information call Torridge’s housing options team on 01237 428841 or full details of the scheme can be found at www.emptyhomes.com and www.ecology.co.uk/emptyhomes.