South Kesteven District Council’s mortgage scheme helps first-time buyers

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Thirteen property buyers have taken advantage of a council mortgage support scheme since it launched.

South Kesteven District Council began a pilot project with Lloyds TSB last year to reduce the mortgage deposits paid by first-time buyers.

They pledged £1m to reduce deposits from 20 per cent to just five, with the council guaranteeing the difference.

Since the pilot was launched 13 buyers have taken advantage of it.

Council leader Coun Linda Neal (Con) said: “We are really pleased with the results. It’s the sort of innovation we want to continue, making dreams come true for people and boosting our aim of supporting development of neighbourhoods and communities.”