A new housing scheme proposed by Lincoln City Council could help young people get their foot on the property ladder.
The £2 million project would mean that initial housing deposits could be lowered to as little as 5%, enabling more people to secure their first house. This investment would close the gap between the usual £25,000 deposit on a £100,000 home to just £5,000.
An estimated 100 poeople that live in Lincoln and are looking to buy a house in the city could benefit from this project.
Hayley Brown, National Association of Estate Agents, understands how tough it is for first time buyers, ‘Unfortunately for young people the house prices are quite high.’ Hayley supports the City Council’s proposed scheme, ‘it would make a tremendous difference. I applaud the initiative.’
City Vibe’s Christine Diffey spoke to Hayley Brown, National Association of Estate Agents, and Adam Heath, Frameworks Association, about the current housing market and the knock-on affect this has had on the homeless.