The aim of this loan is support the regeneration of Wrexham Town Centre, allowing key properties to be acquired, refurbished and redeveloped to support the economy of the area.
These loans have been developed with and funded by the Welsh Government.
This loan is for key buildings and developments within Wrexham Town Centre only and is not available elsewhere in the County Borough at present.
Interest-free loans of up to £500,000 (50% of the cost) are available to help with the acquisition and improvements to key properties within Wrexham Town Centre.
Loans can be used towards acquiring, refurbishing, converting and redeveloping properties, subject to securing the necessary planning permission and other consents.
How does the loan work?
The loan is a secured loan with a charge placed against the property for the lifetime of the loan. A first or second charge will be required with the total amount of loans not exceeding 80% Loan to Value (LTV). Normally the charge is placed on the property being improved, however the charge may be secured against an alternative property if necessary.
Loans are currently subject to an application fee of up to £1,000, plus Land Registry and Companies House fees as applicable (no further interest is charged on the loan itself). Confirmation of fees will be provided at time of application. This covers all costs incurred by us in providing the loan, including Legal Fees and Valuation Fees (if required). There are no charges for early repayment of the fees.
How soon does the loan need to be repaid?
The loan is repayable over a period of up to five years (or upon the sale of the property if it is sold within this time).