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Hyndburn Council to give helping hand to first-time buyers (From Lancashire Telegraph)
It's reported that first time buyers will be able to get half their deposit paid, in a scheme to sell council-owned properties.
Apparently Hyndburn Borough Council owns properties worth a combined £1.5million.
It seems not many are able to afford the £7,000 deposit needed for the terrace properties, worth on average £70,000.
Where are these £1.5 million pounds worth of houses, and why does H.B.C. own them?
I thought they'd given away all their housing stock to Hyndburn Homes.
Good, bad idea, I don't know.
Though I don't think it's the job of a local council to act as a property speculator.
Especially when they don't seem very good at it.