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Interest-free loans to help turn around the empty property market

Last Modified September 25, 2019
 
As part of a sustained effort to reduce the number of empty properties in the borough, we are offering interest-free loans for homeowners wishing to sell or rent their empty properties.

Letters have been sent to empty properties across the borough coinciding with National Empty Homes week, which begins on Monday, (23 September) to raise awareness about the work being done to tackle empty homes. Nationally, there are 216,000 homes in England that have been vacant for over six months.

And it is part of our Empty Homes Strategy (2018-2022) which uses a range of financial products, negotiations and enforcement to generate a robust turnaround in the empty property market.

Cllr Jean Heywood, Housing and Transport Portfolio Holder, said: “We are determined to ensure our housing supply works to support the needs of all our residents.

“One of the ways we can do this is by offering financial incentives to home owners with empty properties. Interest-free loans of up to £25,000 are on offer. We can also use enforcement to help turnaround these properties and prevent them from sitting around empty.

“Creating homes from empty properties makes environmental sense too, by ensuring we utilise existing buildings and minimise the amount of land used for development.”

The Government has given local authorities powers to take action to ensure that all empty homes within the borough are utilised for housing, especially given the high demand for housing within Hertsmere.

The loans offered are subject to the home being in a poor condition and the home has to be sold after the renovations and we encourage them to rent through us. 

You can find out more information from the private sector team by emailing: private.sector@hertsmere.gov.uk

Or you can visit our Empty Homes page
Posted on Wednesday 25th September 2019
 

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