THIS WEEK IN 1997: Help the homeless plan is money-saver
Cheap mortgages were to be made in Portsmouth for people to buy empty properties to lease to the homeless.
The own-to-lease scheme was part of the Hampshire and Isle of Wight Property Forum’s strategy to bring some 17,000 empty homes in the area back to use.
In return for low-interest rate mortgages, landlords would have to lease the property to a housing association for at least five years.
Mandy Scott, Portsmouth City Council’s empty property officer, said this not only guaranteed landlords an income but provided a manager as well.
Jeremy Wood, head of housing and busines finance at Nationwide, said: ‘This will help regenerate the city centre.’
A total of 580 run-down properties had been brought back into use since the campaign was started in 1994.