You are here: Home - Mortgages - First Time Buyer - News -

Lloyds commits £6.5bn to first-time buyers this year

0
Written by:
21/01/2013
Lloyds Banking Group has committed to lend £6.5bn in 2013 to get more first-time buyers onto the property ladder.
Lloyds commits £6.5bn to first-time buyers this year

The bank said it expected 60,000 people would be in their first home by the end of the year and has raised the bar from the £5bn first-time buyer lending commitment it made last year.

Lloyds Banking Group said its brands already provide a third of all mortgages on affordable homes in the country.

The lender also contributes more than 40% of the funding for the government-backed NewBuy scheme and has now collaborated with 42 housebuilding firms.

Lloyds’s pledge comes as the firm’s Bank of Scotland brand launches products as part of the MI New Homes scheme for the first time. Products for the Scottish equivalent of NewBuy will be available via selected intermediaries from today.

The bank also said it would continue to offer loans up to 90% LTV through its Halifax and Lloyds TSB product ranges, with 30 councils now involved with the Lend a Hand and Local Lend a Hand schemes.

Stephen Noakes, mortgage director at Lloyds Banking Group, said: “Our range of products is continuing to make home ownership a reality for so many first time buyers.

“The recovery in the housing market rests on growth in the wider economy. Whilst the property market is likely to continue to be challenging, we remain committed to getting things right at the start of the chain, creating liquidity in the housing market and helping more people get on to the property ladder in 2013.

“Through our unrivalled commitment to affordable housing and new build schemes through Halifax, and innovative products such as Lloyds TSB’s Lend a Hand, we’re offering real solutions for those with smaller deposits.”

 

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

Spreadbetting hub

Click here to find out everything you need to know about spreadbetting

Insurance Experts: Are you fully insured? Click here to get a quote.

For a free quote or to speak with an insurance expert call 0800 1218744

Guide for First-Time Buyers

Download our free, handy guide for first-time buyers, produced in association with the Post Office.

BNY Mellon launches investment guide for women

BNY Mellon has produced a free ‘Guide to Investing for Women' to provide an introduction to investing and lo...

Your ultimate guide to the new ISA rules

As the new ISA – or "NISA" – rules come into force, we explain what has changed and how you can benefit.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Shopping for the best rate can help your savings build over time.

Top tips for protecting yourself online

One in six adults has fallen victim to a cyber-attack, according to new research from Experian.

BLOG: Top tips for would-be entrepreneurs

As Global Entrepreneurship Week draws to a close James Benamor teaches Your Money how to get a business off th...

Stock tips from top fund manager: IP Group

James Henderson, manager of the Lowland Investment Company and Henderson Opportunities Trust, selects IP Group...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Questions on health insurance?

Visit www.health-on-line.co.uk or call 01202 544255

Money Tips of the Week

Close