Working in partnership with local councils
First Time Buyer Loans
We understand that the costs associated with buying your first home can be huge. If you’re almost there but need some help on the final stretch, we may be able to help. We provide loans which may be used to top up your deposit, spread the cost of your solicitor’s fees, removal costs or other fees associated with moving into your home (subject to eligibility).
Talk to us today to find out if you are likely to be eligible for a loan, how much you could borrow, and the loan best suited to your circumstances. This won’t impact your credit score.
Our first-time buyer scheme is currently available to people in North Somerset, Sedgemoor and Somerset West and Taunton, with each council having its own eligibility policy.
If you live in North Somerset click here to find out more.
If you live in Sedgemoor or Somerset West and Taunton, click here to find out more.
- Borrow from £1,000 to £5,000
- Up to 10-year repayment period
- No early repayment charges
- Flexibility to overpay £100 or more off your loan at any time
- Fixed interest rate
- Typical 4.2% APR
Loan Calculator4% interest fixed (typical 4.2% APR)
How much would you like to borrow?
Over what period of time?
Important – The maximum loan amount available and loan term will depend on your council area and the relevant council policy. The above figures are for information only. Please contact us to discuss maximum loan amounts and terms available in your area.
Loans are typically protected by a Title Restriction at the Land Registry for which there is a £20.00 fee. This means that you may not be able to sell your home without our permission unless the loan is fully repaid.
There are no early repayments charges. Interest is calculated daily and you can make overpayments of £100 or more at any time during your loan term.