This Rural Housing Week, Cornwall Council is encouraging Community Land Trusts to apply to its £4 million ‘Revolving Loan Fund’ to help build new affordable housing for local people.

CLTs are able to identify sites, unlock land and obtain local support.

The Council can provide CLTs with short-term development finance at a preferential lending rate.

The £4 million fund is open for bids from CLTs for loans of up to £1.5 million per scheme. This can be through their own schemes or working in partnership with other providers.

The money will be recycled as loans are repaid, and the fund is expected to run for seven years until 2021/22.

Loans can support the development of all types of affordable housing including shared ownership, shared equity, affordable rent, intermediate rent and intermediate sale.

Between 2009 and 2014 the first CLT Loan Fund lent out £3.14m which enabled 35 new affordable homes to be built.

If you would like more information contact 01872 326353 or email [email protected]