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Introduction
According to a 2025 UK Home Renovation Trends and Statistics report from Hillarys, the average renovation budget is £14,000 when being used to improve part of a property. This figure scales up when a full property renovation is required, the average cost to renovate a 3-bedroom house in the UK in 2024 was £76,690.
Landlords looking to attract long term tenants and developers looking to renovate and sell properties for a profit can also get an idea about the typical costs of more expensive home improvements or repairs. The report states that addressing damp issues and damp proofing can cost up to £16,000, fixing rot up to £2,000, roof repairs and replacement can cost anywhere between £4,500 – £12,000. Loft conversions can cost up to £45,000, installing new central heating costs £4,000 and a new bathroom is around £6,000.
Anyone looking to update housing by carrying out renovation and repairs can seek grants and loans from the local authority that their properties are situated in. Council funding priorities permit funding being allocated to landlords and property developers if it increases the availability of local housing stock or improves the quality of dwellings inhabited by existing tenants. Local authorities are looking to support empty homes being renovated so that people may move in and long term empty commercial premises being converted into residential units.
Loans are often offered for larger development projects involving renovation or development of multiple dwellings, and in some cases these loans are offered interest free. Grants are usually offered for smaller projects with specific purposes such as empty home improvements or grants for landlords.
Here Is A Selection Of The Latest Property Development Funding Schemes
i) Bridgend Valleys and District Centres Placemaking Property Improvement Grant
Bridgend County Borough Council provides a scheme to support works to enhance building frontages and bring vacant commercial floor space back into beneficial use and to convert vacant upper-floor space into new residential accommodation above commercial units, including internal and external works to bring vacant space back into use for residential purposes. Up to £30,000 is available for occupied properties and up to £49,999 is available for properties that have been vacant for more than six months.
Application Deadline: Applications are invited on an ongoing basis
ii) Empty Property Grants
Carlisle City Council has a scheme that is providing grants for the owners of empty residential properties to repair and refurbish their homes and bring them back into use. Funding up to £30,000 is available.
Application Deadline: Applications are invited on an ongoing basis
iii) Repair to Lease Grant
Harrow Council is running a scheme providing grants for landlords to help them repair their residential properties and lease them to tenants. Funding up to £10,000 is available.
Application Deadline: Applications are invited on an ongoing basis
iv) Meeting Minimum Efficiency Standards Plus Grant Pilot Scheme
The City of Westminster Council is running a pilot scheme to provide funding to landlords to improve the energy efficiency of their property, measured by the Energy Performance Certificate. Funding up to £10,000 is available.
Application Deadline: Applications are invited on an ongoing basis
v) Grants for Private Landlords – Standard Properties and Houses in Multiple Occupation
Lewisham Council is providing grants for private landlords to improve their residential properties to make them fit for occupation. Funding of up to 50% of the eligible cost of the works to a maximum of £4,000 is available for self-contained properties and up to 50% of the cost of eligible works to a maximum of £8,000 is available for licensed Houses in Multiple Occupation.
Application Deadline: Applications are invited on an ongoing basis
vi) Conversion Grant
Brent Council is providing grants for the owners of empty residential properties to repair and refurbish their properties, or converting commercial premises into homes. Funding up to £6,500 is available.
Application Deadline: Applications are invited on an ongoing basis
vii) Warmth and Security Grant
Hackney Council is providing grants for landlords and owner-occupiers to improve the security and energy efficiency of their homes. Funding up to £6,000 is available.
Application Deadline: Applications are invited on an ongoing basis
viii) Well Homes Empty Property Grant
Rochford Council is providing grants to the owners of long-term empty residential properties for major repairs to the structure of the dwelling and any amenities within. Funding up to £5,000 is available.
Application Deadline: Applications are invited on an ongoing basis
How To Apply For Property Development Funding Schemes
Full details about how to apply for schemes and the eligibility criteria is available on each individual scheme page on the relevant website. Any deadlines, who can apply and what eligible costs the grants will cover will also be outlined on these pages. Interested businesses can speak to funding specialists based at each provider who can guide them through requirements and eligibility criteria to see if the relevant funding is a match with their needs and help them to apply. There are also application forms and other supporting guidance available on scheme pages as well.
Want To Find More UK Property Development Funding Opportunities?
If you want to see the full set of UK property development funding currently available, please visit https://getbusinessgrants.com/