The Local Authority Home Loan is a government-backed mortgage for first-time buyers or Fresh Start applicants. It is available nationwide from all local authorities for those on modest or low incomes who cannot get sufficient funding from regulated financial providers to purchase or build a home. Eligible first-time buyers can apply for a Local Authority Home Loan to purchase a new or second-hand home , or to build their own home.
A ‘Fresh Start’ principle applies to the Local Authority Home Loan Scheme. This means that people who are divorced or separated and have no interest in the family home, or who have undergone insolvency proceedings, are eligible to apply under this Scheme. It is available nationwide from all local authorities.
For more information on the Local Authority Home Loan go to Local Authority Home Loan.