Apply for an empty property loan

The Council has developed an interest free loan to assist owners to bring their properties back into use.  To be eligible for an Empty Homes Loan the following criteria must be met:

  • Client must be an owner or their nominated representative
  • The property must have been empty for six months or more
  • The property must be owned by the applicant
  • Client must have enough equity in the property to cover the loan in excess of £3000
  • The loan will be up to a maximum of £10,000 repayable over a maximum of five years from date of full funding released
  • Any loan greater than £3,000 will be placed as a land registry charge against the property
  • Interim payments can be made on submittal of contractor invoices or where works are to be carried out by applicant
  • The property must be located within the Nuneaton and Bedworth area

Empty home owners can apply for a loan by completing the empty homes loan application form.

The loan will cover up to £10,000 of renovation works to bring the property up to a reasonable letting standard.  The property must be thermally comfortable, weatherproof and have reasonably modern facilities.  If the amount of works required exceed this limit then the property will not be considered for the scheme unless the owner agrees to cover the cost of the additional works.

There must be sufficient equity in the property for it to be considered for the loan.  This will be decided by Nuneaton and Bedworth Borough Council.  Loans will be secured by a legal charge on the property which will be registered with the Land Registry office.

The property will initially be viewed by the empty homes team to determine its eligibility for the scheme, eg size, condition and location.  Where appropriate a further visit will be carried out by the empty homes team to prepare a schedule of works.

For more information, refer to our empty property strategy.