The Welsh Government launched a new scheme, “Houses into Homes”, in February 2012. There is a fund for councils in Wales to offer loans to owners of empty homes to bring them back into use, either by renting or selling the property. Work to convert empty buildings into residential accommodation will also be eligible under the scheme.
Loans will be available on an interest-free basis for up to three years, depending on the scheme, up to a maximum of around £25,000 per property (or £150,000 for multiple units in one building). There will be some administration and legal costs to an owner in setting up a loan and the value of the property together with any existing borrowing against it will also be taken into consideration.