MORE homes are to be provided to the young and homeless in Bacup and Stacksteads, thanks to a loan from an ethical bank.

Proffitts, an East Lancashire not-for-profit regeneration agency, secured a £120,000 loan from Charity Bank, which will enable them to buy three houses worth £40,000 each, to be redeveloped and tenanted to young people in need of housing.

This follows on from their success in 2013, when six houses that had previously stood empty for long periods of time were transformed into modern habitable homes and rented by local teenagers and single parent families.

Martin Proffitt, director of Proffitts, said: “It has been an emotional, positive and rewarding experience for all involved in the project, especially for the young people we have housed.”

A 20-year-old single mother who has recently moved into one of the redeveloped properties said: “I can't believe all the help I've had to get my first new home. It's adorable.

"The people at Proffitts even painted my little girl’s room pink! It really is lovely.”

Charity Bank is an ethical bank which offers loans to charities in order to fund social projects which will help the community, and since 2002 has used money saved with it to loan £200million to charities and social enterprises.

Jeremy Ince, Charity Bank’s regional manager in the North, said: “Not only is this project providing desperately needed accommodation for young homeless people, it is breathing new life into the local community by regenerating empty run-down properties.

“Charity Bank is perfectly placed to support projects like this with its mix of financial expertise and knowledge of the non-profit sector.”

The ‘empty homes’ project, which is available to all young people in Rossendale who have a housing need with minimal support, was developed in partnership with Rossendale Borough Council and the M3 Project.

Proffitts and the M3 Project also offer pastoral care and support to new residents to support them as they learn to live independently.

To find out more, or to make a donation to the M3 Project, visit rossendalem3.org