You are here: Home - First Time Buyers - News -

Lloyds pledges 80,000 FTB mortgages

Written by:
Lloyds Banking Group has said it aims to provide mortgages to 80,000 first-time buyers in the next year.
Lloyds pledges 80,000 FTB  mortgages

Lloyds Banking Group has pledged to lend more than £10bn to first-time buyers in the coming 12 months

The group, which operates the Lloyds Bank, Halifax and Bank of Scotland brands, said it would provide one-in-three mortgages on affordable housing schemes, including shared ownership and shared equity.

It will also continue to support the government’s Help to Buy scheme and the Local Lend a Hand programme in partnership with local authorities. This will mean the group funds a third of all lending on new build properties in the UK.

Last year Lloyds pledged to complete 60,000 loans to first-time buyers, a figure which it passed in October.

Stephen Noakes, mortgage director at Lloyds Banking Group, said:

“This is the third consecutive year that we’ve undertaken a huge commitment to helping first-time buyers and each year we are aiming to make the mortgage market more accessible for more people.

“Across our brands, we have demonstrated our firm commitment to first-time buyers with our involvement in initiatives such as Help to Buy and the Local Lend a Hand Scheme. We are now seeing increased confidence in the housing market, and this is underpinned by more people getting on the first rung of the property ladder.”

Lloyds has also announced it is to set aside a further £1.8bn for claims against the mis-selling of payment protection insurance (PPI). This brings the group’s total provision to almost £10bn.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Sorry. No data so far.

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Read previous post:
Mortgage market ‘steaming ahead’

The number of mortgages approved by lenders continued to rise sharply in December.