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Property Improvement Loans

Loans of up to £25,000 are available to enable improvements to be made properties that are owner occupied or privately rented. Owners of empty properties who wish to occupy the properties themselves are also eligible to apply.

Properties that have been converted to a number of self-contained units may be eligible for loans per self-contained unit – up to a maximum of 6 units per applicant.

These loans have been developed in partnership with the Welsh Government and are funded via the 'Vibrant and Viable Places' and 'Homes Improvement Loans' schemes.

Eligibility

The loan is a secured loan with a charge placed against the property for the lifetime of the loan. A first or second charge will be required with the total amount of loans not exceeding 80% Loan to Value (LTV). Normally the charge will be placed on the property which is being improved; however the charge may be secured against an alternative property if necessary.

Upon completion of the works, the property must be rented out or sold.

Other eligibility criteria may apply – please contact to discuss further

Fees

Loans are subject to an application fee of 15% of the total amount borrowed, no further interest is charged on the loan itself. This covers all costs incurred by the Council in providing the loan including Land Registry and Companies House fees (as applicable), Legal Fees and Valuation Fees (if required). There are no charges for early repayment of the fees.

Fees may be subject to review, please contact to discuss further.

Additional Assistance

Wrexham County Borough Council also provides assistance to find contactors to undertake works if you require via our 'Houseproud' scheme. There may be a small additional charge for undertaking this work – please contact to discuss further.

Repayment Term

Loans are repayable over up to 5 years if the property is rented and up to 7 years if the property is owner occupied.

How do I apply?

Loans are available by contacting the Private Sector Improvement Officer on 01978 315 587 or emptyhomes@wrexham.gov.uk, or in writing to Strategic Housing Services, Wrexham County Borough Council, Ruthin Road, Wrexham, LL13 7TU.