On Air Cooky Through Your Workday Email Call: 01524 848969 10:00AM - 2:00PM
Now Playing Dua Lipa New Rules Download
Listen Live

Loan Scheme Could See More Affordable Homes Built In South Lakes

SLDC could soon lend money to housing associations to help them build affordable homes.

South Lakeland District Council's cabinet will meet next week to consider setting up an initial £6million pot.

Housing associations could then borrow some of that at a low interest rate.

The council's targeted the creation of a thousand new affordable rented homes by 2025.

Councillor Jonathan Brook, Portfolio Holder for Housing and Innovation, said: “The loan facility would allow housing associations to access low interest rate finance from the council, removing an obstacle which may be preventing them from developing more affordable housing in the area.
 
“The council would receive a financial return from the repayment of the loans and also be fulfilling our pledge to work with partners to deliver the new affordable homes which our communities need.”
 
Cllr Brook added: “There is no doubt that there is a continuing high need for affordable housing in this district. Around 60% of affordable housing is delivered by housing associations, most of which require some financial help or support.
 
“A new loan facility, which would allow housing associations to draw down on a scheme by scheme basis, should accelerate the delivery of more homes which our communities need.”

More from Local News

  • Available on the App Store
  • Available on Google Play
A6 Lancaster Road - Carnforth, Lancashire

Very slow traffic on A6 Lancaster Road at B6254 Market Street Traffic Lights.

Recently Played on The Bay
  • Clean Bandit And Anne - Marie And Sean Paul

    Rockabye

    10:35
  • Roxette

    It Must Have Been Love

    10:31
  • George Ezra

    Budapest

    10:22