Skip to content

Need a hand to buy a home...?

Lloyds Bank and South Kesteven District Council have joined forces to help first time buyers purchase a home with a deposit of just 5%.

What is the Local Lend a Hand scheme?

The scheme was launched in 2012 by South Kesteven District Council in partnership with Lloyds TSB to help first time buyers get onto the housing ladder.

How does it work?

The council has pledged £2m to reduce the mortgage deposit required by guaranteeing up to 20% of the amount needed, leaving the buyer to find just 5%. On a typical £100,000 house purchase, many lenders require a buyer to raise £25,000 deposit. The council guarantee reduces that to just £5,000.

What prompted it?

SKDC has recognised that many potential buyers can afford a mortgage but cannot raise the deposit. And statistics suggest that when a first time buyer enters the market, it prompts another five movements further up the chain.

Who can apply?

Any first time buyer purchasing a house within the district of South Kesteven (includes Grantham, Stamford, Bourne and The Deepings)

Is there a limit?

Yes. The council guarantee applies to a maximum mortgage amount of £147,250 on a £155,000 home. In Year One, SKDC guarantees ranged from just under £10,000 on a £58K loan to £24,600 on a loan of £116,850.

How do buyers access the scheme?

Make sure your financial adviser has Local Lend a Hand on their list of good mortgage sources, or direct your buyer to Lloyds Bank.

What sort of property is eligible? 

Second hand homes only.

Has it been popular? 

In its first year Local Lend a Hand helped 43 first-time buyers to own their own home.


Your home may be repossessed if you do not keep up with payments on your mortgage.

To find out more, contact the financial adviser with the estate agency you are buying a home through or go direct to the mortgage adviser at your local branch of Lloyds Bank.

"We are really pleased with the results. It's the sort of innovation we want to continue, making dreams come true for people and boosting our aim of supporting development of neighbourhoods and communities.

Our project is helping people buy their first home and that will stimulate the whole property market." Linda Neal, Leader, South Kesteven District Council.