First time buyers in the Midlands may be able to get a mortgage with just a 5% deposit
First-time buyers in Leicestershire can apply for mortgages under a new scheme which require as little as a 5% deposit.
Leicestershire County Council is lending £10 million to a bank to help them provide affordable mortgages.
Christina East will benefit from a new scheme for first time buyers launched by Leicestershire County Council. Savers can apply for mortgages which require as little as a 5% deposit, half the amount normally required.
The council and Lloyds TSB hope to help 400 new buyers onto the property ladder with the 'Lend a Hand' scheme.
First-time buyers in Leicestershire can apply for mortgages which require only a 5% deposit, designed to help more people onto the property ladder.
This is first-time buyer Christina East looking at properties in an estate agents.
Christina is hoping to buy under the new scheme run by Leicestershire County Council & Lloyds TSB which will allow her to borrow 95% of the value of the mortgage rather than 90%.