Houses to homes loan

Page updated on: 28/11/2023

The Houses to Homes initiative offers loans to assist in bringing much needed empty properties back into use as residential homes.

Loans are available for properties empty for six months or more.
Loans to convert empty commercial properties into residential accommodation are considered. We will only consider a loan application if the relevant planning permission has been granted
The maximum loan amount you can apply for is £25,000 per property or unit, up to a maximum of £150,000 per applicant (six units)
Any loan offered, taking into account any existing mortgage, cannot exceed 80% of the current property value. Therefore, if you have an existing mortgage of £65,000 on a property with a current market value of £100,000, then the maximum loan that can be approved is £15,000.

It is possible in certain cases for another property to be used as security for the loan. The finance may be used for:

a property you intend to sell - these loans would have a maximum two-year repayment period
a property you will rent - these loans would have a three to five year repayment period

Approved loans will be subject to a number of conditions to ensure that the fund can assist in turning other empty properties into homes.