Britain's biggest mortgage lender has slashed the amount
customers can borrow under the Government’s Help to Buy scheme in a move
branded ‘bad news for first-time buyers’. Lloyds Banking Group cut the amount it is prepared to
lend by 70 per cent – from £500,000 to £150,000. The state-backed bank, which
owns the Halifax, currently offers around half of all the mortgages taken out
under Chancellor George Osborne’s scheme to help young people who cannot rely
on wealthy parents for a downpayment on their own home. Read more on the Daily
Mail website.
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