Who can apply?
Prospective purchasers must meet all the following eligibility criteria:
- Be considered in need of assistance in purchasing a property
In order to be considered in need of assistance in purchasing a property, a prospective purchaser must be able to afford to buy the property at the discounted price but not at the full market value. A financial assessment of all applicants will be undertaken to determine this taking into account household income, savings, equity from the sale of an existing property and the amount of mortgage a bank or building society will agree to lend the applicant.
- Have a connection with the borough of Chorley
A connection is defined as any of the following; currently lives or has previously lived in the borough, is employed within the borough, has family living in the borough
- Not own any other property
All Low Cost Home Ownership scheme properties must be used as the owner's main home and are not permitted to be rented out. Applicants must not own any other property other than their current home which they must be in the process of selling.