Helping hand to buy your first home

MORE than 30 local people have taken their first step on the housing ladder with a helping hand from Trafford Council and Lloyds TSB.

The council has provided £2million as indemnity to enable first time buyers to get a 95 per cent mortgage as part of the Local Lend a Hand Scheme.

Lloyds TSB worked with Sector Treasury Services, part of the Capita Group, to develop the scheme, which enables borrowers to buy their first home with a deposit less than the 25 per cent required by most mortgage lenders.

Executive councillor Michael Hyman said: “Getting on the housing ladder is quite a challenge in these difficult financial times and I am delighted that we have already been able to support so many people in buying their first home through the Local Lend a Hand Scheme. The council earns interest on the indemnity we put forward so there is also a financial benefit for all Trafford tax payers.”

For more information about the Local Lend a Hand Scheme, visit your local Lloyds TSB branch.

Comments

Comments are closed on this article.

click2find

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree