Help for first time buyers

First time buyers in Stamford and South Lincolnshire are being given a helping hand getting onto the property ladder.

South Kesteven District Council is joining forces with a high street bank to offer deposits of just 5%.

They're investing £1 million into the mortgage indemnity scheme, which it's hoped will help around 30-40 buyers.

South Kesteven council leader Linda Neal said: "We know that lots of local people can afford monthly mortgage payments but cannot move into the market because they haven’t got the deposit.

"If you take a house with a relatively modest asking price these days, say of £100,000, that means that the potential purchaser often needs a deposit of at least £10,000. Not too many people starting out in the housing market have got that sort of cash and that is where we can help.”

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