WARRINGTON Borough Council’s innovative scheme to help first-time buyers get on the property ladder is going from strength to strength.
More than 75 first-time buyers had benefited from the scheme since it was launched in partnership with Lloyds TSB in August last year.
Subsequently the scheme was expanded with the involvement of Teacher’s Building Society and now the council has teamed up with the Leeds Building Society to help even more would-be homeowners.
Warrington was one of the first authorities in the country to make the “Lend a Hand” scheme available and the speed with which it has grown makes it one of the most successful.
The scheme helps first-time buyers by enabling them to purchase a home with a deposit of just five per cent and at a lower rate of interest than would normally be available at this level of deposit.
Raising a deposit is one of the biggest obstacles facing most first-time buyers.
Cllr Russ Bowden, the borough council’s executive member for corporate resources and assignments said: “As we were one of the first authorities to provide this scheme, we are delighted with the scale of its success. During the past 12 months, this scheme has gone from strength to strength and has had a very positive effect on those people who have been able to take advantage of this great offer.”
More information is available from the building societies involved.
