Empty homes - your options
The Empty Homes Officer can advise you on the various options available.
Selling your property can be a highly profitable opportunity.
Most people looking to buy a property start by checking their local high street estate agents. There is no obligation to sell when getting your property valued and it is recommended you obtain three valuations for a balanced view.
Auctions provide a quick and immediate way of selling; over 25,000 properties are sold annually by auction in the UK.
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High street lenders can provide loans so you can improve your property and bring it back into use. This may be difficult if you have insufficient equity as loan security or if you have a poor credit rating. We may be able to help by signposting you to sympathetic lenders.
We may be able to assist you to identify sources of grant funding or loans which could be avilable to you.
Mortgages for renovating empty properties can be hard to find. The problem is that derelict (run-down) properties aren’t worth much until they are renovated.
If you want to borrow money for both buying and renovating a property, you will be asking for more than it’s actually worth in its run down state.
By letting your property you will start earning money on it rather than losing it.
You could appoint a letting agent to find you a tenant and provide a management service. A percentage of the rent is usually charged and an initial letting fee. More reputable accommodation agencies are registered with one of the organisations listed below. Please see the listed url’s.
You could find a tenant and become a landlord. The Landlord Handbook, produced by ANUK and LACORS is an essential read for all landlords and can be downloaded free.
Not really an option at all when you realise how much it’s costing you to leave the property empty.