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Help onto the property ladder

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editorial image

First time buyers in the Dales are being given a helping hand thanks to a new partnership between the council and a mortgage lender.

Derbyshire County Council and Lloyds TSB have struck up a landmark deal to help residents get on the property ladder.

The Derbyshire Lend a Hand Scheme is part of a £2million investment by the authority in schemes to help secure mortgages and boost the local economy.

The initiative, which launches next month, will offer first time buyers preferential interest rates on their mortgage if they can raise a five per cent deposit.

Cllr Andrew Lewer, leader of the council, said: “We are delighted to be launching the Derbyshire Lend a Hand scheme which will be a real boost to first time buyers and the local economy.

“Many potential house buyers are finding it difficult to find a mortgage because of the high cost levels of existing 95 per cent mortgages.

“Buying your first home is an exciting time and we want to make it affordable to help people get started on the housing ladder.

“We know that this will provide a big boost for the Derbyshire economy during challenging financial times.”

To register interest in the scheme go to www.derbyshire.gov.uk/yourfirsthome

 

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