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First Time Buyer - Lend a Hand Scheme
frankie.87
Posts: 1 Newbie
Hi All
I am new to the forum and looking for a bit of advice.
My partner and I have been saving for a house deposit for the past 6 years and finally have our 20% deposit.
We have heard about a joint scheme, called Lend a Hand, between our local county council (Leicestershire) and Lloyds TSB to help first time buyers.
leics.gov.uk/pressrelease.htm?id=263595
lloydstsb.com/mortgages/lend_a_hand.asp
(As a new user I can't post the links in full.)
I am wondering whether we will be able to take part in the scheme and, for example, only put down 15% deposit and keep back the further 5% to give us some funds to kit out and do up the house and also to keep some money behind us as a safety net.
We are hoping to speak to someone at our local Lloyds TSB this week but before we get the sales speak from the bank and come away all excited does anyone know of any 'hidden catches'? It all sounds a bit too good to be true and it would be nice to hear if anyone else has had any experiences? The bank won't exactly be offering unbiased advice.
Any thoughts / experiences of the scheme I would love to hear.
Thanks in advance
Frankie
I am new to the forum and looking for a bit of advice.
My partner and I have been saving for a house deposit for the past 6 years and finally have our 20% deposit.
We have heard about a joint scheme, called Lend a Hand, between our local county council (Leicestershire) and Lloyds TSB to help first time buyers.
leics.gov.uk/pressrelease.htm?id=263595
lloydstsb.com/mortgages/lend_a_hand.asp
(As a new user I can't post the links in full.)
I am wondering whether we will be able to take part in the scheme and, for example, only put down 15% deposit and keep back the further 5% to give us some funds to kit out and do up the house and also to keep some money behind us as a safety net.
We are hoping to speak to someone at our local Lloyds TSB this week but before we get the sales speak from the bank and come away all excited does anyone know of any 'hidden catches'? It all sounds a bit too good to be true and it would be nice to hear if anyone else has had any experiences? The bank won't exactly be offering unbiased advice.
Any thoughts / experiences of the scheme I would love to hear.
Thanks in advance
Frankie
0
Comments
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I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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