£5bn Commitment for first time buyers
Lloyds Banking Group has unveiled the UK's largest commitment to first time buyer lending by confirming it will lend £5bn to first time homeowners by the end of 2012.
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."
"Getting things right at the bottom of the ladder has an important knock on effect throughout the chain. With our unrivalled commitment to affordable housing, new build through Halifax, and innovative products such as Lloyds TSB's Lend a Hand, we're not targeting our support at a select few, but making home ownership a reality for a whole generation of buyers."