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Local Authority Mortgage Scheme set for January launch in Braintree district
9:00am Saturday 28th December 2013 in News
A scheme designed to help first-time home buyers is finally set to launch next month after a series of delays.
The Local Authority Mortgage Scheme (LAMS) will provide a £2million pot for househunters in the Braintree district.
At a Braintree Council meeting last Monday, cabinet member for performance David Bebb confirmed the scheme was expected to launch on January 7 or 8.
Under the scheme, which will be open to those wanting to buy properties valued up to £250,000, prospective homeowners will only have to provide a five per cent deposit, with the remaining 20 per cent being guaranteed by ECC.
The £2million fund could help as many as 66 first-time buyers in the district.
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