Are there any conditions attached to approving the loan?
Yes:-- You must carry out the conversion/repair works within an agreed amount of time.
- The property/units must be either sold or let within a reasonable amount of time after completing the works. If the property/units are not occupied by March 2013 the loan will be cancelled.
- The loan must be repaid either on or before the date given to you when the loan is approved.
- You will also be required to sign a form to confirm that the property/units will be maintained in a satisfactory condition until the loan is repaid. A copy of this form will be sent to you if you decide to apply for a loan.
- A financial charge will be made on the property for the lifetime of the loan.
- More information about the conditions can be found in the loan information booklet, the No Use Empty website and from the No Use Empty team.
