First time buyers

Local Authority Mortgage Scheme 

The aim of the Local Authority Mortgage Scheme (LAMS) is to help first time buyers who can afford the mortgage repayments, but do not have the high deposits often required to purchase a property in Warrington.

The scheme works by providing a guarantee for 20% for 5 years which enables first time buyers to obtain similar interest rates to those offered to people with a higher deposit.


  • You must be a first time buyer (someone who has never had a mortgage or owned a property before).  If  applying as a couple and only one of you is a first time buyer then you can still apply 
  • A 5% deposit is required
  • Both lenders (Lloyds TSB and Leeds Building Society) have strict lending criteria that applicants will need to comply with
  • The property purchased must be in Warrington
  • This scheme excludes new build properties

Although the maximum property value which will be considered is £350,000, it is important to remember that applicants must have the 5% deposit and be able to afford the mortgage repayments. These are determined by the lender on the basis of the applicant's financial status.  Download the Local Authority Mortgage Scheme factsheet [pdf] for more information.

The council is working in partnership with Lloyds TSB and Leeds Building Society

To make an application please contact:

  • Lloyds bank - Debbie Goodier - 07590484340
  • Leeds building society - Mark Alston - 0161 8320346 

Home and Communities Agency

The government's Home and Communities Agency (HCA) is now offering the Help to Buy Scheme which is equity loan assistance for all home buyers who wish to buy a new home (and not just first time buyers).  Up to a maximum of 20% of the purchase price is available to the buyer through an equity loan funded by the government through the HCA.

The scheme will run from 1 April 2013 until 31 March 2016 (or earlier if all of the funding is taken up).  Help to Buy is available in England from house builders registered to offer the scheme.  The Local Help to Buy Agent covering the Cheshire and Merseyside area is HomesHub, which is part of the Plus Dane Group.  Visit the Help to Buy website

Further information about this scheme please contact Help to Buy.

  • Help to buy (North West) - 0300 7900570