Leeds mortgage deposit scheme helps new buyers


A mortgage deposit scheme being supported by Leeds City Council is helping up to 18 first-time buyers to secure a property.
So far, 11 homeowners have completed deals to purchase a house in recent weeks through Leeds Building Society’s Helping Hands initiative and it is possible seven more requests will be processed.
The project began in Leeds last September and supports individuals buying their first home to land a property valued at up to £
160,000 with a five per cent deposit, while the council underwrites the other 20 per cent.
Leader of Leeds City Council Keith Wakefield said the current market is making it almost impossible for young people to get on the housing ladder, but he is delighted the local authority can help.
He added: “This scheme is a great example of how new ideas can have a real impact, with the local economy also benefiting through all the related businesses which are part of buying or moving into a house.”
The council has set aside a total of £2 million for the initiative for an initial five-year period and anyone wishing to take part must prove to Leeds Building Society they can afford the repayments.

Get the Best Rates from Local Mortgage Advisers Now!

Finding the best mortgage advisers in your area is easy. Whether you're looking for buy to let, a residential mortgage, or a commercial loan, just enter your location into the form and answer a few questions. Then sit back and let the backend system do all the legwork to put you in touch with independent mortgage advisers near you!

Find the Best Rates from Local Mortgage Advisers!
Finding the best mortgage advisers in your area is easy. Whether you're looking for buy to let, a residential mortgage, or a commercial loan, just enter your location into the form and answer a few questions. Then sit back and let the backend system do all the legwork to put you in touch with independent mortgage advisers near you!

Powered by Bark

Close
100% secure