FACTFILE... on the scheme

The Peterborough Evening Telegraph - - Uk & World Update -

PETER­BOR­OUGH City Coun­cil in­vested £1 mil­lion in the Lo­cal Lend a Hand Scheme.

The pot of money the­o­ret­i­cally un­der­writes up to 20 per cent of a mort­gage.

Lloyds TSB will only claim the money if the house is sold for less than was paid for or it is re­pos­sessed – and then only if the de­posit does not cover the losses.

The pot could help about 40 peo­ple get on the prop­erty lad­der and if suc­cess­ful the fund will be in­creased to £10 mil­lion.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.