Empty residential property assistance loans
Chorley Council will consider offering an Empty residential property assistance loan to owners who are unable to self-finance property improvements that would bring them back into occupation. The council will explore this option on a case by case basis and a loan may be offered on an interest free basis and be fully repayable.
The maximum loan sum in any one case will be £15,000 and it is a requirement that owners will have sought high street mortgage and loan options in the first instance.
The council will seek to arrange and facilitate such loans through whatever means are available at the time subject to any legal and financial restrictions.
Any loan for this purpose will be subject to Member approval and the council can be protected against financial risk by placing the loan as a local land charge against the property.