Million pound investment to bring Liverpool homes back into use

Alex Johnson

map1 300x173 Million pound investment to bring Liverpool homes back into useDozens of empty homes in two of Liverpool’s most deprived areas will be brought back into use thanks to a £3.5m scheme from Liverpool Mutual Homes (LMH) to regenerate 45 mid-terraced properties in Tuebrook and Stoneycroft by next autumn.

LMH intends to invest £2.54m while Liverpool City Council has provided a grant of £979,000 after it received £16.8m from the government’s Cluster of Empty Homes Fund last year. The work will target properties that have been empty for over six months that might be at risk of falling into permanent disrepair or blight settled streets.

Green measures within the improvements will reduce tenant’s fuel bills compared to similar existing properties and reduce carbon emissions. The properties will be let on affordable rents.

Chief Executive at Liverpool Mutual Homes, Steve Coffey, said: “Liverpool has a distinct shortage of decent rented housing properties and this problem is magnified in Tuebook and Stoneycroft. Empty homes should be seen as a potential asset and an opportunity to address the housing crisis so it is vital they are brought back into use to meet demand. We have shown the success of this approach after saving many derelict homes over the past five years, particularly in Broad Lane and Norris Green, transforming tired areas into thriving communities. By investing in pockets of empty housing – in some cases two and three homes in a street – it stops whole rows of terraced housing and then neighbourhoods falling by the wayside.”

The map above shows property for sale around Stoneycroft using Zoopla’s Smart Maps gadget.

Longer term mortgage changes at Yorkshire
From tomorrow the Yorkshire Building Society will be cutting the rate on its 10 year mortgage to 3.89%, 75% LTV (loan to value) and it is available fee free.  They will also launch a new five year mortgage, available at 2.44%, 65% LTV with a £1,345 fee. The Society will also be launching a 2 year mortgage (65% LTV) at 1.69%, with a £1345 fee.

Millions of homeowners say their home needs repairs (but can’t afford them)
According to new research for mortgage and loans broker Ocean Finance, 49% said their home could do with some repair work. Of those, 32% said they needed to fix fences and boundaries around the home, while 30% need to repaint the exterior. And one in four have problems with damp or mould. Of those who said their home needs repairs, just over half simply can’t afford it.

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  • Mark Page

    There are 700,000 empty homes in England and Wales. The vast majority are owned by the banks who keep them off the market to keep the housing bubble perpetuating.

    What people need to wise up to is that we are living in a bubble economy. Everything is rigged, from interest rates to foreign exchange rates to the stock market. It’s all going to come down like a house of cards.

  • How_delightful

    I`m guessing that the Israeli lobby will demand that Brits should be thrown off welfare first.

  • How_delightful

    The amount of cash allotted is pointless without referencing how much renovation cost is being allotted per house; AND ask whether the houses will be effectively doubled in size so they are big enough to live in in today`s day and age; and get a parking space outside your own garden-less home.
    Note; there also must be a ton of work fixing the drains, kerbs and the paths and roads, but no mention of the cost breakdown (if its included in the overall investment.

    It could be cheaper to start from scratch.
    Knock the houses down and pay the unemployed to re-cycle the bricks which are worth a bundle.
    I guess the scouse thieves have already made off with all the copper pipes. True?

  • evad666

    Well if the Israeli lobby do not the arabists will.

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