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Cambridge City Council launches loan scheme to help bring empty homes up to rental standard (20 March 2017)
Date: 20/03/2017
Cambridge City Council has launched a scheme to help the owners of empty properties in Cambridge bring them back into residential use.
The council is offering loans of up to £25,000 to homeowners, which would enable them to carry out essential renovation works – such as installing a boiler or improving bathrooms and kitchens – to bring their property up to standard, so it can be let.
In order to qualify for a loan, the homeowner would need to agree to the property being rented at an affordable rate and managed through Town Hall Lettings – the council’s not-for-profit lettings agency – or a similar housing provider.
Tenancies would usually be for at least two years and loans would be subject to a formal agreement and would be paid off within two to five years.
Cambridge City Council says that, according to data from Council Tax records, there are an estimated 379 empty properties in Cambridge, of which 56 have been unused for more than two years.
The council has an Empty Homes Policy and a full-time officer to help make currently empty homes available for people who need housing.
The loan scheme would be a positive incentive for empty homeowners looking to bring homes that have been empty for a long period back into use, says the council.
Executive Councillor for Housing, Councillor Kevin Price, said:
“I would appeal to anyone in the city with a property that is currently empty to get in touch with us to see how we can help them turn it into a much-valued home for a family, couple or individuals.
“There are many reasons why homes may be standing empty – but they can often be a burden for their owners, as well as having a negative impact on neighbourhoods.
“The proposed loan scheme for empty homes is another innovative way in which the council is trying to address the shortage of affordable homes in the Cambridge.
“We have already helped bring 33 properties back into use in the past nine months, but would like to see this figure increase even more.”
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