Council to vote on cheap loans
Council bosses are poised to pay out £60,000 to help Preston residents improve their homes.
The cash will go towards 15 low-cost home improvement loans handed out as part of the Preston Moneyline scheme.
Up to £25,000 is on offer to low-income homeowners who fail to qualify for grants.
The loans are available at interest rates with a typical APR of between 3% and 5%.
Since the scheme began in May 2005 PML has provided 102 home improvement loans totalling £415,000.
PML was initially funded through the Neighbourhood Renewal Fund but is now financed through the repayment of original loans with help from Preston Council.
The council's cabinet is to vote on the funding at a Town Hall meeting on Wednesday.
Source:http://www.lep.co.uk
