Lloyds commits £5bn to first-time buyers
Lloyds Banking Group has confirmed it will lend £5bn to first time homeowners by the end of 2012. In the first six months of the year, the Group says that they have helped over 25,000 first-time buyers and as part of their new lending plan, they will help over 50,000 people buy their first home by the end of 2012.
This figure represents one in four first time buyers and 140 new homeowners every day. Stephen Noakes, Mortgage Director at Lloyds Banking Group, commented: "This commitment is not about paying lip service. It shows that we're providing genuine solutions for people buying their first home. "It's important that we dispel some of the myths about first time buyer mortgages. People can buy a home with a 10% deposit, or even 5% through the NewBuy scheme."
August 3, 2012
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