People trying to buy their first home in the Ribble Valley could get help with a new borough-wide loan scheme.
Previous affordable housing schemes have typically been linked to specific new-build housing estates, or specific towns, villages or parishes. But the new scheme suggests first-time buyers could use the loans for homes, old or new, anywhere within the Ribble Valley.Councillors on the borough’s Health & Housing Committee are looking at the latest ideas.
The report to the Health & Housing Committee states: “In the current climate with lenders insisting on more than 10 per cent deposits, the proposal is to run the scheme again. It is not just about assisting those who do not have a deposit. Applicants must demonstrate that their income alone does not allow them to purchase the property at its current open market value.”
Source: Loan Digest (loandigest.net)
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