No Use Empty Initiative Loan Scheme
The following local councils participate in the above scheme:
Ashford, Canterbury, Dartford, Dover, Gravesham, Maidstone, Shepway, Sevenoaks,
Swale, Thanet, Tonbridge and Malling, Tunbridge Wells
- The property must have been empty for more than 6 months
- Loans are interest free subject to conditions
- Loans will help landlords, owners and developers to meet the cost of repairs and improvements to bring their property back into use
- Loans are awarded in units of £25,000 to a maximum of £175,000 per applicant (with exception of Tonbridge & Malling which has a maximum of £50,000 per applicant)
- Loans to let – repayment period currently up to 3 years from the date a secured charge in favour of KCC has been registered
- Loans to sell – repayment period is on the sale of the first unit or within 24 months of a secured charge in favour of KCC being registered
- Properties must be brought back into use within the agreed project timescales and made available to rent within 12 weeks after the project has been completed (or marketed for sale).
- The loan will be made available as a 100% upfront payment (Larger loans are normally awarded on a phased basis)
- The loan scheme will help create new, quality and sustainable accommodation across Kent
How do I apply for a loan?
We would suggest that you download and read the loan guidance booklet, as this will give you important information on how the scheme works and what conditions you will have to meet to be eligible for a loan.
If you feel that you could benefit from a loan under this scheme or require further information or guidance, then please contact your local Empty Property Officer via the contact section
Formal application packs are obtainable on request from the Programme Manager or Project Officer for No Use Empty at Kent County Council.
PLEASE NOTE THAT ALL LOANS ARE ADMINISTERED ON A FIRST-COME FIRST SERVED BASIS AND SUBJECT TO FUNDING REMAINING AVAILABLE
WE CURRENTLY HAVE AN ALLOCATION OF £2.5M per annum to at least 2017-18