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Interest Free Housing Loans

The Vale of Glamorgan Council in partnership with Welsh Government is providing interest-free loans to improve poor quality housing across the Vale of Glamorgan.

 

The Council are offering a number of interest free loans through the Houses into Homes and Home Improvement Loan schemes. Loans are available to assist owner occupiers and landlords with essential repairs and to assist owners to bring long term empty properties back into use.

 

Types of loans available:

Houses into Homes

Loans are available to assist owners to carry out repairs or improvements to enable the property to be occupied. The loan will be available for owners who wish to sell or rent out the property. Loans can be used for work on residential properties or commercial buildings, which can include splitting a property into flats. Properties must be empty for a minimum of 6 months.

 

Empty property owners, charities, businesses and property developers can apply for an interest free loan. Applicants can apply for a loan up to £25,000 per unit, with a maximum of £150,000 per applicant. Loans will be repayable over 2 years if the property is sold, or 3 years if the property is let.

 

Frequently Asked Questions

Empty Property Loan

The empty property loan will be available to owners who wish to occupy an empty property. The loan can be used to undertake repairs to enable an owner of an empty property to occupy it on completion of the work.  Work can include replacement of central heating boilers, repairs to electrics, work to remedy damp.

 

Applicants are able to apply for interest free loans of between £1,000 and £25,000, which will be repayable over a period of up to 5 years.

 

Frequently Asked Questions

Home Improvement Loan - Home Repair Loan

Home repair loans are available to assist owner occupiers to undertake essential repairs to make a home safe, warm and secure. Work can include replacement of central heating systems, repairs to electrics, repairs to remedy damp, renewal of defective windows and doors.

 

Applicants are able to apply for interest free loans of between £1,000 and £25,000, which will be repayable over a period of up to 5 years. 

 

Frequently Asked Questions

Home Improvement Loan - Landlord Loan

The landlord loans are available to assist landlords to undertake essential repairs to make a home safe, warm and secure. Work can include replacement of central heating systems, repairs to electrics, repairs to remedy damp, renewal of defective windows and doors.

 

Applicants are able to apply for interest free loans of up to £10,000, which will be repayable over a period of 3 years. Landlords who take a loan will be required to make the accommodation available to the homelessness team.

 

Frequently Asked Questions

VAT Relief on Empty Properties

Bringing empty properties back into use can be costly particularly when extensive renovations are required. However, the Government has introduced a number of tax changes, which could potentially reduce costs. 

Additional information

There will be a loan application fee and you will be required to demonstrate your ability to repay the loan within a set period of time. All loans will be secured on the property and will take into account an existing mortgage. The mortgage and / or the loan cannot exceed 80 per cent of the property’s value. Loans are not available for general improvements or to extend an existing property. 

 

Contact us

Should you wish to find out more information about the loan schemes or to receive an application pack please complete an online form or contact:

 

Housing loans 

Regeneration and Planning

Vale of Glamorgan Council

Dock Offices

Subway Road

Barry

CF63 4RT