North Somerset Council has developed a loan scheme to assist first time buyers with the initial cost of buying their first home.
The scheme may be available to eligible 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, call 01823 461099.
Missing payments could affect your credit rating and your ability to obtain credit in the future.
Loans are subject to status and eligibility criteria.
Loans may be secured by a Title Restriction on your property, which means you may not be able to sell your home without repaying the loan.
This scheme is only available to eligible applicants within the North Somerset Council area.
This information is for general guidance only and does not constitute financial advice.
