Landlord Basics

£2.1m Fund To Help First Time Buyers

A new funding scheme in Glasgow could be the key to helping first time buyers to get onto the property market.

Conceived by Scottish house builder Cruden Homes, Glasgow Credit Union, NHS Credit Union and the Co-Operative Bank; their fund ‘Unique Property Solutions’ has been specially designed to offer first time buyers the chance to access 20% deposit funding loans and 95% LTV mortgages by:

One: Encouraging them to establish regular savings through Glasgow Credit Union

Two: Assisting them to create a bespoke repayment plan that in a year could help them to become eligible for a mortgage

Currently only available in Glasgow, should this funding scheme prove successful it could end up being used elsewhere across Scotland and eventually in the UK. And property advisors all seem to agree that the utilisation of such schemes is vital for bringing first time buyers back onto the market.

With many simply unable to acquire the finance for large deposits, the opportunity to receive advice on alternative banking routes as well as tips credit ratings will be invaluable.

Related posts:

1. Osborne announced help for first time buyers
2. More 90% LTVs For First Time Buyers
3. First Time Buyers Waste Thousands
4. First time buyers could get help with council scheme
5. First Time Buyers Make A Comeback!

Tags: first time buyers, property market

This entry was posted on Friday, July 9th, 2010 at 7:45 am and is filed under first time buyers, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.