Stevenage homebuyers’ �1.5m leg up onto the housing ladder
First time home buyers can apply for a leg up onto the housing ladder after Stevenage Borough Council approved a scheme to help with deposits.
Last week the authority approved �500,000 funding, which in addition to �1m from Herts County Council will help around 35 applicants meet the 20 to 25 per cent deposits required by mortgage lenders, if they provide 5 per cent or more.
The money must be paid back and is only available for houses up to the value of �180,500.
The First Step policy, part of the national Local Authority Mortgage Scheme, goes live in mid November.