By Simon Wesson, Reporter
Friday, April 27, 2012
A SCHEME to help first-time buyers on to the housing ladder, by offering 95 per cent mortgages, is being planned in Hertfordshire.
Hertfordshire County Council has announced plans to introduce a Local Authority Mortgage Scheme for people who can afford mortgage repayments, but not the large deposit required with first-time purchases.
The plans were approved by the county council’s cabinet on Monday and a budget of up to £12 million will initially be put aside.
The scheme will be the first of its kind to be available countywide (East Herts Council has also just launched a scheme) and is planned to be in place by summer 2012.
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