To apply for a loan under the No Use Empty scheme, you'll be glad to know that the process is structured and involves a few key criteria. The properties must be empty for at least six months, and loans are secured via a land registry charge.
Here's a quick overview of the relevant loan details:
| Loan Type | Amount | Eligibility Criteria | Repayment Terms |
|---|---|---|---|
| No Use Empty | £25,000 | Property must be empty for 6 months or more | Repay when sold or after 3 years if rented |
| No Use Empty Plus | £20,000 | Same as above | Same as above |
If you're looking for more hands-on assistance or want to start this application, you can find help through reporting or owning an empty property. It’s a great initiative to turn unused spaces into much-needed homes!