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  1. ITV Report

Council targets owners of empty homes with interest free loans

There are 379 empty properties in Cambridge. Credit: ITV Anglia.

Cambridge City Council look set to offer loans to owners of empty properties as an incentive to renovate them and bring them back into residential use.

The loans of up to £25,000 would be offered to homeowners so that they could carry out essential renovation works such as installing a boiler, or improving bathrooms and kitchens, so they could be let out.

I would appeal to anyone in the city with a property that is currently empty to get in touch with us to see how we can help them turn it into a much-valued home for a family, couple or individuals.

There are many reasons why homes may be standing empty but they can often be a burden for their owners, as well as having a negative impact on neighbourhoods.

– Cllr Kevin Price, Executive Councillor for Housing

In order to qualify for a loan, the rent afterward would need to be affordable, and managed through the council's not-for-profit lettings agency - or a similar housing provider.

According to data from Council Tax records, there are estimated to be 379 empty properties in Cambridge, of which 56 have been unused for more than two years.