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First-time property buyers in the Isle of Man are being targeted by a new mortgage scheme offered by Lloyds TSB.
The 'Lend a Hand' mortgage sees up to two family or friends helping to buy a property by opening a special savings account with the bank, which can be used towards the cost of a new home.
Lloyds TSB says the buyer's deposit and the helper's contribution must come to at least a quarter of the property's value.
Business development manager Lucy Felton says those taking out a 'Lend a Hand' mortgage will see lower interest rates and lower monthly payments, while mortgage 'helpers' earn interest on their contributions.
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