CPS Homes

Interest-free loans of up to £25k available for empty property development

Cardiff property

Latest figures suggest there are around 23,000 empty properties in Wales, so the Welsh Government has made a £20m fund available to help turns houses into homes for people who need them.

The Houses into Homes scheme allows individuals or companies to take out an interest-free loan of up to £25,000 in order to bring empty houses or commercial buildings back into use – including splitting them into flats.

In order to be eligible for the loan, the property must have been empty for at least six months, and once the work is complete, it must be sold or rented out.

Individuals and companies may make up to six applications each, so can loan up to £150,000 from the scheme which applies to both residential and commercial properties.

The loans are available now and must be paid back within two or three years, depending on whether the property is sold or let.

To find out more about the Houses into Homes scheme, please visit the Welsh Government’s website or e-mail housesintohomes@cardiff.gov.uk. 

Feel free to contact the CPS Homes team if you want to redevelop your property!

13 November 2015

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

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