To be eligible for the No Use Empty scheme, property owners must meet certain criteria. The main requirement is that the property has been empty for six months or more. Additionally, loans through the scheme are secured by means of a land registry charge.
Here’s a quick summary of the eligibility requirements:
| Eligibility Criteria | Details |
|---|---|
| Property Status | Must be empty for 6 months or more |
| Loan Amount | Up to £45,000 per unit (includes top-up) |
| Loan Security | Secured by a land registry charge |
| Loan Repayment | Upon sale or after 3 years if available for rental |
If you're considering applying for this scheme, make sure your property meets these criteria. It can be a great opportunity to bring empty properties back into use and contribute to the housing market. For further details, you might want to check the No Use Empty scheme information directly from the council.