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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.”


RBS looking to expand its NewBuy distribution via mortgage brokers

Royal Bank of Scotland is planning to offer NewBuy products through intermediaries for the first time, with experts predicting that NewBuy applications could hit the 10,000 mark in 2013. At launch, in March 2012, Nationwide, Barclays, and NatWest – a subsidiary of RBS – signed up to the scheme, with Halifax, Santander and Aldermore signing […]

MS Leader: Market on top at MS Awards

Mortgage Strategy held its annual awards ceremony last week and as usual the great and the good of the mortgage industry were out in their glad rags and finery as they toasted the successes of another year. But what really marked out the evening was the general air of positivity in the room. The last […]


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