There are an estimated 400 private homes in Aylesbury Vale that have been empty for more than 6 months.
At the same time, there are 4500 households on the housing register, waiting for suitable homes. This puts pressure on the need to build new homes, which could at least in part be met by homes that already exist but are empty.
In addition, empty properties are usually less well maintained than occupied ones. If they become dilapidated, it can affect the confidence of the area and attract vandalism, squatters and crime.
What are you doing to bring empty homes back into use?
Read our Empty Homes Strategy to find out what we’re doing to bring empty homes back into use.
Helping you make your empty home more habitable
Affordable loans scheme
The scheme works as a partnership between the owner of the empty home, a registered provider (a housing association), and AVDC.
The registered provider renovates the property to bring it up to standard. The cost of the renovation work is funded by a secured low interest rate loan (charged at the Bank of England base rate, subject to minimum and maximum rates) provided by the council. Some additional fees also apply.
The property is let as affordable housing, and the loan is repaid monthly from the rental income. The owner will receive the net rent. At the end of the agreement, the property is returned to the owner.
Flexible loans scheme
If you own an empty home, you may secure a 5 year flexible bridging loan to fund renovation works. Interest will be charged at 2% above the Bank of England base rate, subject to minimum and maximum rates. Some additional fees also apply.
After the works have been completed, you may let the property or use it as your own residence.
During the term of the loan, you can make regular monthly repayments, occasional monthly repayments, or no payments at all – and you can vary the arrangement at any time.
The loan, plus outstanding interest, must be repaid in full after 5 years, or when the property is sold – whichever happens first.
For more information, please email us