Torfaen Council is currently investigating the presence of approximately 400 empty properties within the Borough. Empty properties lead to social, economic and environmental concerns including:
- Creating eyesores which are a target for nuisance and anti-social behaviour
- Decreasing the value of neighbouring properties
- Contributing to a housing shortage in the neighbourhood
- Increasing pressure for housing development on Greenfield sites to meet housing demand
- Burdening the local authority with lost revenue from council tax and the time and resources spent by Public Health, Building Control, Fire Authority and Police Services
Empty property owners are also missing out on the potential income generated through letting or selling their property.
The Empty Hopes initiative has been launched with the aim to reduce the amount of empty properties within the Borough through working with owners to bring their properties back into use.
Torfaen Council can provide support with refurbishing, renovating, selling or letting an empty property. This information pack is designed to provide the owner with guidance on how to bring their empty property back into use.
Where empty property owners are not compliant and all negotiations have failed, Torfaen Council will take the appropriate enforcement action to ensure that the empty property is returned to a habitable condition and brought back into use. Enforcement actions may include empty dwelling management orders, enforced sale, compulsory purchase orders or voluntary acquisition.
We urge owners to consult the support links for advice and guidance on bringing their empty property back into use.
For more information about Empty Properties in Torfaen please read our Empty Hopes Information Pack or visit the Torfaen Homes website.
Empty Property Landlord Loan
Torfaen Council in partnership with the Welsh Government are currently offering interest free loans to assist empty property owners to bring their properties back into use.
The Empty Property Loan has been developed to offer interest free loans to renovate and/or convert empty properties so that they are suitable for reoccupation.
Individuals and companies can apply for a loan, if they already own an empty property or are considering buying an Empty Property in Torfaen. Loans can only be made available for properties that have been empty for at least six months or more (but it need not have been owned by the applicant for that period).
Money is paid up front to the owner and will need to be repaid within; 2 years - if the property is to be sold (the loan must be repaid in full once the property is sold) or 5 years (if the property is to be rented).
All loans can be repaid earlier if the applicant wishes to do so.
There are no monthly repayments, the full amount is repaid at the end of the specified period.
The maximum loan amount you can apply for is £25,000 per property or unit, up to a total maximum of £250,000 per applicant.
Please note that any loan offered, taking into account any existing mortgage cannot exceed 80% of the current property value. The loan approved must be secured by a first or second charge being secured against the property. If there is an existing mortgage on the property we need the lenders to consent to secure our charge.
For more information about Empty Property Landlord Loan in Torfaen please visit the Torfaen Homes website.
Last Modified: 30/08/2019
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