Chorley Council to provide affordable homes through new company

The new organisation will use a £14m funding line to purchase 120 homes over the next six years.

Councillor Jane Fitzsimons, who is responsible for housing at Chorley Council, said: “Far too many people in the borough are telling us they can’t afford their own home, or can’t even afford to rent in Chorley, and one way we can do something about this is by influencing the housing market ourselves.

The plan would see the authority borrow up to £13.8m to fund the project as part of a long term investment that take nine years to cover its costs and start to generate a profit for the council.

“We’ve done a lot of work to get to this stage and we feel this is a great opportunity to address the lack of affordable homes to rent and drive improvements in the private rented sector,” said