Showcasing the Best of Welsh Business

£1.5m RCT Scheme Helps Buyers onto the Property Ladder and Renovate Empty Properties

SHARE
,

Many residents will soon be moving into the homes they thought they could never afford, thanks to a £1.5m Rhondda Cynon Taf Council scheme to help people on to the property ladder and rejuvenate empty properties.

Less than a year since its launch as part of #RCTinvest and the Empty Property Grant scheme is already set to pay out over £1million to owners who have purchased a property that has stood empty for six months or more.

Half a million pounds still remains in the pot for those who are looking to buy a property that is currently standing empty, to help them with the cost of modernisation, such as rewiring, new flooring, replacement ceilings and kitchens.

It is hoped that by the end of the two-year scheme, some 100 houses that once stood empty and neglected will soon be occupied by new owners.

Cllr Joy Rosser, Rhondda Cynon Taf Council’s Cabinet Member for Prosperity, Wellbeing and Communities, said:

“A thriving housing market and accommodation that meets the needs of the people who live here is essential for the prosperity and wellbeing of Rhondda Cynon Taf and its communities.

“That is why housing is a priority issue for us. Empty Property Grants are just one of the ways in which we are helping people to get on to the property ladder, while also boosting the local housing market and associated industries.

“Empty homes are offered at an affordable price because they often need a lot of work. While buyers can afford the property, they may not have the means to cover the often significant cost of bringing that empty property up to a standard in which they can live.

“Many empty properties have not been repaired or modernised for decades and need new wiring, heating, flooring, ceilings, kitchens and bathrooms. The grant we offer allows buyers to cover some of the cost of that work.

“We are delighted that 65 grant applications are already at an advanced stage in the process and can see that figure exceeding 100 by the end of the two-year scheme.

“That is 100 new households that have been created across RCT, adding to our communities and 100 properties which could have fallen into disrepair and even become blights on the landscape brought back into use.

“This scheme is not only helping buyers and the industry associated with the market and the improvement works. It is also helping communities. Just one empty property can have a negative impact on how someone’s perception of a community, so it is important we bring these homes back into use.”

  • The Empty Property Grant is available for buyers who intend to live in that property for at least five years.
  • Alternative funding is available for landlords who wish to regenerate a property in order to let/sell

Find out more about the affordable housing and grant funding options open to you at www.rctcbc.gov.uk/housing