Overcrowded Owners
A scheme for homeowners in Luton is being set up where the Council is putting aside a ‘nominal sum’ of £100,000 for the initiative in 2012/13 to fund loft conversions for homes whihc are over crowded. The loan will have to be repaid when the property is sold, and will be secured against the home in the same way as a mortgage.
Underoccupying Tenants
Richmondshire Council has set aside £150,000 to incentivise families, where children have left home to downsize their accomodation. It awards tenants who move to a smaller property £2,500 for every bedroom they lose as a result of the move, up to a maximum of £7,500 and this has already released 200 homes for families. Help might also be given with removal and redecorating costs.