The initiative, called the Local Lend a Hand in Derbyshire scheme, has been set to help around 60 first time buyers – with hopes to expand on this number. Derbyshire County Council has teamed up with Lloyds TSB to create the scheme.
The scheme is being promoted in branches of Lloyds TSB in the region and first time buyers are encouraged to go along and speak to advisors or to pick up promotional material to take home and read. The bank is making use of Flyers which have been produced using full colour printing. Chesterfield and Derbyshire residents will have the opportunity to take advantage of this scheme over the coming months.
Councillor Andrew Lewer spoke about the scheme to the Chesterfield post, saying:
“It can be very difficult for some people to get on the property ladder because of the high cost levels of existing 95% mortgage deals. Our link up with Lloyds TSB makes it more affordable for people to take what is an exciting step in their life by buying their first home.
“We also know that every first time buyer sparks, on average, another four transactions further up the chain, so this provides a genuine boost for the local economy."
Those who are interested are advised to contact Lloyds TSB or the council for more information.
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