First time buyers benefit from fund

A scheme to help first time buyers get on the property ladder through a £2m Derbyshire County Council investment will be launched next week. The authority has joined forces with Lloyds TSB for the Local Lend a Hand scheme in Derbyshire which will support at least 58 first time buyers who might otherwise not get a mortgage.

First time buyers meeting the scheme’s criteria will be eligible for a mortgage with a preferential interest rate if they can raise a 5 per cent deposit.