Eden District Council in Cumbria is planning to offer interest free loans of up to £15,000 to enable empty property owners to bring their homes back into use. There are nearly 400 empty properties in the Eden district. Currently owners of empty properties can access grants of up to £20,000 from the council to help refurbish their properties and realise some valuable income through renting them to people registered on the Choice Based Lettings Scheme for a minimum of five years. However, the council wants to widen the scheme by offering an interest free loan of up to £15,000 over a three-year term to enable empty property owners to refurbish their assets. It says the owners can then sell or rent them to enable repayment. It adds that there would be no stipulation on who the property can be sold or rented to. The council is also working with housing associations to offer a scheme to lease empty properties for a period of 5-10 years which would mean a guaranteed rental income for property owners. Read more on the Eden Council website.
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