Help for first time buyers in Surrey

06-Jan-2006

A scheme whereby aspiring homeowners are given a 25 per cent loan to help finance the purchase of a property is going some way to easing the affordable homes situation in Surrey.

If you are interested in buying a new house within a 'gifted deposit' scheme whereby you don't need to come up with a deposit but just pay a nominal fee of £5000 click here

Available from Mole Valley District Council, the loan is easing the financial burden of buying a first home and helping more people to get on the property ladder in the area.

To ask about the legal costs of house-buying or to ask a legal question specific to your own situation click here

Praising the scheme, David Mitchell-Baker, a researcher of social and community issues in Leatherhead in Surrey, said that it was important to ensure the provision of affordable housing.

"It is a question of making sure they really are affordable," Mr Mitchell-Baker told the Dorking and Leatherhead Advertiser.

He highlighted the increasing average age of the population in Leatherhead, blaming it on the rising house prices and lack of options for younger aspiring homeowners.

"The population of people aged 15-40 fell by eight per cent between 1991 and 2001, but the overall population only fell by 1.4 per cent over the same period," he added.

Mr Mitchell-Baker concluded that although the scheme was a success, other initiatives had to be introduced to prevent the area from "stagnating".

Click here for further information on finding a deposit

To find out what you can borrow, even if you are in an adverse credit situation click here

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