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Council launches 20 per cent loan value scheme

Essex County Council is launching a local authority mortgage scheme to help first-time buyers.

The scheme, launched in partnership with the county’s district, borough and city councils, will guarantee up to 20 per cent of the mortgage loan value. The council estimates there are around 6,000 people struggling to purchase their first home in the county.

The council has also frozen council tax for the third consecutive year.

Leader of the council Councillor Peter Martin says: “We believe that at a time when the people we represent face a real struggle to keep their heads above water that we must limit demands on household incomes. So for the third year running there will be no increase in the council tax from Essex County Council.”

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