South Kesteven District Council launches first-time buyer scheme

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A COUNCIL scheme to help first-time buyers get their foot on the housing ladder was launched yesterday.

South Kesteven District Council launched the scheme in partnership with Lloyds TSB, which helps first-time buyers purchase a home with a five per cent deposit.

The council has set aside £1m for the scheme, which will guarantee three quarters of a first-time buyer’s mortgage deposit on properties worth up to £125,000. The fixed rate mortgage will be at a lower rate of interest.

It is hoped this money will help between 30 and 40 buyers and could be extended if it is successful.

Information on the scheme, called Local Lend a Hand, is available at Lloyds TSB branches in High Street, Stamford, and North Street, Bourne.