Loans to help bring empty properties back into use.

Blaenau Gwent Council’s Executive Committee has approved the changes to the current Home Improvement Loans Scheme, following the introduction of a revised framework by Welsh Government.

Home loan assistance in Blaenau Gwent will now consist of the following services:

• Interest free Landlord Loans - for sub-standard or empty properties for sale or rent.  Works to bring an empty property back in to use.

• Interest free Owner-Occupier Loans – for sub-standard or empty properties intended for owner-occupation. Works to bring an empty property back in to use.

• Property Appreciation Loans (PALs) - a new equity share loan product in Blaenau Gwent for owner-occupiers, who cannot otherwise afford to fund repairs need to enable them to continue to live independently in their own homes and/or in a safe, warm and secure environment. 

Councillor Garth Collier, the Council’s Deputy Leader & Executive Member for the Environment said:

“Over the last six years, we have had considerable success in providing financial support to help bring empty properties back into use for living accommodation and this work will continue. We are now able to also offer a new home repair loans targeted to people who may otherwise not be able to fund essential repairs, with all loan set-up fees being met by the Council.”

Further information about these services will soon be available on the Council’s website; www.blaenau-gwent.gov.uk”.

The full report can be found on the following link:
http://democracy.blaenau-gwent.gov.uk/aksblaenau_gwent/images/att8559.pdf