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Scheme to renovate and rent out properties
OWNERS of empty properties can apply for financial help to bring them back into use through a national scheme launched today (Monday, September 2).
Durham County Council has signed up to the National Empty Homes Loan Fund, established to tackle the 710,000 empty homes across the country.
Owners of properties that have been uninhabited for at least six months can apply for a low interest loan of up to £15,000 to bring houses up to the Decent Homes Standard.
They must then be rented out at 80 per cent of the market rate for the duration of the loan.
The £3m initiative is a joint venture between the Empty Homes charity, the Ecology Building Society, central government, Durham County Council and 38 other local authorities.
The council will work owners on their applications, saving them a £495 charge.
Coun Eddie Tomlinson, cabinet member for housing, said: “Not only will it mean empty properties are renovated and brought back into use but it will also increase the number of affordable homes available to local residents.”
For more information 03000-261076.
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