North Somerset Council launches loan scheme to assist first time buyers

August 29 2018

North Somerset Council has developed a loan scheme to assist first time buyers with the initial cost of buying their first home. The scheme has been designed to assist North Somerset residents currently living in rental properties who have saved towards a deposit for their first home but need up to £5,000 more to increase the deposit amount or assist with solicitor fees or moving costs.

With the average age of first-time buyers now 30 years old and the amount of the deposit growing as house prices rise, getting a foot on the housing ladder can be challenging.

A North Somerset couple recently bought their first home with the help of the scheme. They said “Without the extra funds, we would have needed to save for a long while at the same time house prices would be rising.  We felt we were fighting a losing battle until our friend told us about the new scheme.  We have now moved in and are happy in our new home”.

For more information on eligibility, please click here.

To find out more information about the loans that are available, please complete a contact form or call 01823 461099.

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