Equity loan

On new developments where equity loans are available, we will offer you a loan for a percentage of the property value (usually 30%).

There is no interest to pay back on this loan and you only need to pay it back between 10 and 25 years later or when you sell the property.

There is no rental amount to pay, you own the property outright.

You are required to put down at least a five per cent deposit and to secure a mortgage from a high street lender for the rest of the property’s price.

The length of mortgage cannot exceed the length of equity loan.

Full property price
5% deposit65% mortgage30% equity loan
You Bank/Building Society Wigan Council

When you come to sell the property you payback to Wigan Council 30% of the property value at that time. This can be more or less than you originally borrowed depending on property prices at the time.

You are able to repay the equity loan to own up to 100% of the equity in the property.

Who can apply

  • You must live or work in Wigan Borough, or otherwise have a long-standing family connection to the borough

An independent financial advisor must assess your finances to make sure it is affordable for you to access the scheme (please note, stamp duty and service charges are applicable. You should discuss all associated costs with the Sales Team on each individual development as they will vary from scheme to scheme).


To see what homes are available please visit the Properties Available to Buy page.

Should you find a development that meets your needs, please apply through the “Apply For It” link on the page.

It may also be beneficial to visit the Sales Office on the development you are interested in to inform your choice (please check with developers for sales office opening arrangements).

What homes are available?

Our list of homes to buy tells you which homes are available with an equity loan through our scheme.

Watch the video below to see how the scheme has helped other people in the borough:


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© Wigan Council