Local MP Maria Miller has welcomed new opportunity to apply for Borough Council’s unique scheme, which aims to support local residents to purchase their first property with a loan of up to £30,000.
First time buyers looking to get on the housing ladder are being invited to get in touch and benefit from Basingstoke and Deane Borough Council’s equity loan scheme.
People have another opportunity to access the council’s Own Home Loan scheme, enabling those on the housing register to make that next step and buy their own home.
The unique scheme aims to support local residents to purchase their first property with a loan of up to £30,000. A total of £580,000 of council money, allocated to provide affordable housing, has been set aside for the scheme which aims to support up to 20 households with loans to reach the deposit required for a mortgage or to bridge the gap between their maximum mortgage offer and property purchase value.
Maria said, “Owning your own home is a dream for many Basingstoke residents and the Borough Council’s unique scheme can make that dream come true. I urge all residents who are thinking about getting on the housing ladder to get on touch with the Borough Council.”
Loans have been successfully offered to a number of applicants who are in the process of purchasing their own home and now there’s a new opportunity to apply.
Qualifying applicants will be considered on a first come first served basis. People interested should email ownhomeloan@basingstoke.gov.uk providing the following information
• Their name, date of birth, telephone number and current address
• Their housing register (Homebid) reference number
• Confirmation that that they can afford a minimum 5% deposit for a property suitable for their needs.
The scheme is available to single people, couples and those with children and can be used to purchase a new build or existing home.
For more information on Basingstoke and Deane Own Home Loan visit www.basingstoke.gov.uk/own-home-loan
